Novatel (NASDAQ:NVTL) Lands Verizon (NYSE:VZ), Sprint (NYSE:S)

According to Jefferies (NYSE:JEF), Novatel (NASDAQ:NVTL) has landed a deal with Verizon (NYSE:VZ), has one about to go into effect with Sprint, and expects them to announce a deal with an unnamed European carrier sometime soon.

The deal with Sprint, which provides them with their mobile WiFi hotspot products, should replace the existing Overdrive from Sierra Wireless (NASDAQ:SWIR) they now use. That will launch on February 27.

For Verizon, they're expected to provide them with a LTE USB dongle modem that will be smaller and quicker than the one they're now using from LG. It's also expected to be less expensive as well. A MiFi LTE modem is also in the works for Verizon from Novatel in the early part of 2011 too.

Jefferies also noted, "Our checks indicate a European carrier could potentially announce a deal with NVTL in the next couple months for bundling MiFi with tablets."

Novatel was trading at $9.89, gaining $0.15, or 1.54 percent, as of 12:34 PM EST.