Verizon Sells Federal Network Systems to Jacobs Engineering Group
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Verizon has reached an agreement with Jacobs Engineering Group (Jacobs) to sell Federal Network Systems LLC (FNS), an entity operating under Verizon Enterprise Solutions. FNS provides communication solutions to a variety of government agencies. Jacobs is a global provider of technical professional and construction services. Verizon will maintain its public sector business and the transaction will not affect the services Verizon currently provides to public sector customers through contracts with FNS or directly with FNS’ support. FNS employees will move to Jacobs as part of the transaction. The transition is expected to be completed within the next quarter. Terms of the deal were not disclosed.
"This sale is part of Verizon’s ongoing effort to focus enterprise service activities for the public sector market and align them with our wireless, broadband and global IP strategy," said Mike Maiorana, senior vice president of sales for Verizon Enterprise Solutions’ Public Sector Division. "Verizon is committed to serving federal government clients providing cloud, security, network, Global IP, wireless and M2M solutions."
In recent years, Verizon has made significant investment to build out its IT services for enterprise and government organizations, particularly related to security, cloud and machine-to-machine (M2M). This includes the acquisitions of CloudSwitch, Terremark and Hughes Telematics.
Verizon Communications Inc. (NYSE, Nasdaq: VZ), headquartered in New York, is a global leader in delivering broadband and other wireless and wireline communications services to consumer, business, government and wholesale customers. Verizon Wireless operates America’s most reliable wireless network, with nearly 103 million retail connections nationwide. Verizon also provides converged communications, information and entertainment services over America’s most advanced fiber-optic network, and delivers integrated business solutions to customers in more than 150 countries. A Dow 30 company with more than $120 billion in 2013 revenues, Verizon employs a diverse workforce of 176,800. For more information, visit www.verizon.com.
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