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Ericsson, NYC Investment Fund Open Silicon Alley CyberLab

Ericsson's CyberLab, a new Internet R&D facility located in New York's Silicon Alley, was inaugurated last week at a grand opening at the facility located in the New York Technology Center at 55 Broad Street.

CyberLab is a collaborative effort between Ericsson, a telecommunications firm committed to research and development, and the New York City Investment Fund, an organization supported by more than 60 New York-based companies.

CyberLab will provide a state-of-the-art environment for developing and prototyping software and applications that will help build the next generation of communication and commerce on the Internet, Ericsson said.

"Ericsson is committed to research and development and CyberLab in Silicon Alley is a logical extension of these programs," said Sven-Christer Nilsson, president and CEO of Ericsson. "Our annual investments in technical development in recent years have amounted to 15 to 20% of our global sales. This new research facility represents Ericsson's commitment to the Internet and Internet-related industries in New York City."

"We are pleased to have played a part in securing CyberLab for New York," said Henry R. Kravis, chairman of the New York City Investment Fund. "Ericsson's research and development commitment to New York City will help generate innovative new business opportunities for the city's flourishing Internet industry."

CyberLab will provide onsite and virtual access to Ericsson technology specialists in network design and integration, multimedia production and distribution, wireless technologies and terminals, and Internet and data communications.

Ericsson opened its first CyberLab last year in Silicon Valley. The facility focused on the development of hardware and software required for Internet infrastructure. Now, CyberLab in Silicon Alley offers a virtual bridge to the West Coast facility, and will create a collaborative environment, Ericsson said.



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