Hungarian Prime Minister, Viktor Orbán, and Ericsson CEO, Börje Ekholm, Open New Ericsson Hungary Headquarters

WASHINGTON, May 29, 2018 /PRNewswire/ --

• Purpose-built facility is one of the most modern workplace complexes in Hungary. It includes a hypermodern test laboratory, Ericsson's innovation space, and Ericsson Garage

• Ericsson signs Memorandum of Understanding (MoU) with Budapest University of Technology and Economics (BME) to extend cooperation in education, research and innovation

Ericson's (NASDAQ: ERIC) President and CEO Börje Ekholm, and Hungarian Prime Minister, Viktor Orbán, today officially inaugurated Ericsson Hungary's new headquarters in Budapest, incorporating state of-the-art R&D and innovation facilities. Ericsson also signed a strategic partnership with Budapest University of Technology and Economics.

More than 1,700 of Ericsson Hungary's 2,000 employees work at the site, located in the heart of Budapest's university area on the banks of the River Danube. Within Ericsson House itself more than 1,400 employees are R&D-focused. Their other site colleagues work in service delivery, sales and business area roles.

Ericsson House R&D center is part of Ericsson's global R&D ecosystem. The new facility comprises state-of-the-art facilities, including a hypermodern test laboratory, Ericsson's innovation space, and Ericsson Garage.

Ericsson also signed a strategic partnership – a Memorandum of Understanding (MoU) – with Budapest University of Technology and Economics (BME) today to extend collaboration aimed at long-term close cooperation in education, research, and innovation.

The MoU goal is to serve as a platform for strategic competence provisioning and research, providing added value to mutually strengthen BME and Ericsson.

Börje Ekholm, President and CEO, Ericsson, says: "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.

"This talent, strong local presence, and our track record enables us to be the main and reliable partner in the development of 5G in Hungary.

"The MoU with Budapest University of Technology and Economics is also great news for local innovation and cooperation. In addition to research results, it will enhance our reputation among students and strengthen BME's attractiveness as a place of study."

ABOUT ERICSSON HUNGARY
Ericsson Hungary, Ericsson's Hungarian affiliate, has been a determinant player in the Hungarian telecommunications industry for 28 years, making significant contributions to society.

Ericsson Hungary has contributed to the deployment of mobile and wireline broadband networks, the economic development of Hungary, and education.

ABOUT ERICSSON HOUSE
The 24,000 square meters facility was built as part of the R&D Park of the Hungarian Nobel Laureates.

Ericsson House fulfills the strictest environmental requirements, earning the international LEED Gold standard.

It was constructed utilizing sustainable solutions in all environmental categories: sustainable site, water efficiency, energy and atmosphere, materials and resources, indoor environmental quality, and innovation in design.

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Ericsson enables communications service providers to capture the full value of connectivity. The company's portfolio spans Networks, Digital Services, Managed Services, and Emerging Business and is designed to help our customers go digital, increase efficiency and find new revenue streams. Ericsson's investments in innovation have delivered the benefits of telephony and mobile broadband to billions of people around the world. The Ericsson stock is listed on Nasdaq Stockholm and on Nasdaq New York. www.ericsson.com

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