BURLINGTON, Mass.—Lightbridge Inc. said it will quit its Telecom Decisioning Services business after losing Sprint Nextel Corp.’s business. The nation’s No. 3 carrier was Lightbridge’s largest TDS customer.
Sprint Nextel’s TDS contract is scheduled to expire at the end of this year. Lightbridge said it will work with its other TDS customers—which it did not name—to help them transition to other vendors.
The company said it will focus its efforts instead on its payment-processing operations.
Lightbridge said it expects to lay off about 200 employees and record restructuring and asset-impairment charges of between $6.5 million and $13 million related to the restructuring.
