Verizon has partnered with HCLTech to help manage networks for business clients in an effort to stop the decline of its wireline business. Verizon’s wireline business has been facing losses in revenue for several years.
Under the terms of the deal, Verizon Business will lead sales and development as HCLTech takes care of post-sale network roll-out and support. A few Verizon employees will also move to HCLTech.
According to Verizon, the partnership will help grow existing managed service business, add new clients and reduce potential churn. The company is aiming at unlocking value by the end of 2023 and into 2024 and beyond.
