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Ericsson To Grow Silicon Valley Presence With New Campus

Stocks in this article: ERIC

  • New facility builds on Ericsson's growing investments in Silicon Valley
  • Brings together approximately 2,000 Ericsson staff dedicated to research and development in IP, TV and Media, SDN, NFV and mobile innovation
  • Includes more than 400,000 square feet of operational space in two buildings at Santa Clara Square and a state-of-the-art Ericsson Experience Center

STOCKHOLM, Sweden, May 28, 2014 (GLOBE NEWSWIRE) -- Ericsson (NASDAQ:ERIC) today announced the construction of a new campus in Santa Clara, California, the latest in a series of big investments designed to accelerate innovation in Silicon Valley.

The new campus will consolidate Ericsson's Silicon Valley operations, bringing together approximately 2,000 Ericsson staff dedicated to driving innovation in IP and TV and Media. The announcement builds on Ericsson's commitment to strategic investment in the region, including the acquisition last September of Microsoft's Mediaroom TV platforms and services division.

Per Borgklint, Senior Vice President and Head of Business Unit Support Solutions for Ericsson said: "Ericsson's new campus unites our rapidly expanding Silicon Valley workforce and creates an environment that will inspire our employees and customers. So much of our research and development is built on internal and external collaboration. Together with our customers and partners, Ericsson is driving IP, TV and Media innovation, and accelerating development of the media enabled, interoperable and programmable network of tomorrow."

Santa Clara Square, being developed by Irvine Company, will include over 400,000 square feet of workspace for Ericsson in two buildings, located along the Great America/Bowers corridor at Highway 101, south of Levi's Stadium in the heart of Silicon Valley. Interior design will feature Ericsson's open and flexible workspace environment, which supports enhanced collaboration. The facility will also feature a state-of-the-art Ericsson Experience Center for customers and partners. Construction is underway and the facility is expected to be available for Phase One occupancy during Q3 2015.

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