Swedish networking and telecommunications company Ericsson inaugurated its EUR 56 million headquarters and R&D center in Budapest on Tuesday. Dubbed Ericsson House, the complex was inaugurated by Ericsson President-CEO Börje Ekholm and Hungarian Prime Minister Viktor Orbán.
Hungarian developer Wing built the 24,000 square-meter center and will lease it to Ericsson for a period of seven years. More than 1,700 of Ericsson Hungaryʼs 2,000 employees work at the site on the banks of the Danube, and over 1,400 of these staff are R&D-focused, noted Hungarian news agency MTI.
Ericsson also signed a memorandum of understanding with the Budapest University of Technology and Economics (BME) to extend a collaboration aimed at long-term close cooperation in education, research, and innovation.
"Ericsson has a strong commitment to Hungary. The continuous growth of the local R&D organization builds on excellent results achieved by Hungarian researchers and engineers, such as the development of Ericsson Expert Analytics, our real-time analytics solution," Ekholm said.
Orbán noted that Hungarians, as well as Swedes, had been pioneers in the telecommunications industry in Europe, citing Tivadar Puskás, the Hungarian inventor of the telephone exchange. He added that Ericsson was the first foreign investor in Hungaryʼs telecommunications industry, entering the market in 1911.