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ECI TELECOM WINS $800 MLN CONTRACT WITH BRITISH TELECOM

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Tuesday, July 6th, 2010

Israel’s ECI Telecom has won its largest ever contract, an $800 million deal with British Telecom’s Openreach to help establish a large-scale super-fast broadband network in Britain.

ECI will deploy next generation access for up to 18 million households and businesses throughout Britain in the next 3-5 years. Deployment is scheduled to begin in July-August. Openreach, which was created in 2006 to give communications providers equal access to Britain’s local access network, plans to invest a further 1 billion pounds ($1.51 billion), or 2.5 billion in total, to extend deployment of fibre-to-the-premise and fibre-to-the-cabinet to around two thirds of Britain by 2015.

ECI supplies communications platforms for carrier and service provider networks. It was acquired by a group of funds led by the Swarth Group for $1.24 billion in 2007 and delisted from Nasdaq.