European Investment Bank extends credit to Ericsson
The European Investment Bank has granted Ericsson a credit facility of EUR 250 million. The funds are intended to bolster Ericsson’s 5G research and development effort.
Alexander Stubb, Vice President of the European Investment Bank, says: “The development of 5G technology is easily one of the most important innovation initiatives for the telecom industry in the coming years. Ericsson has been one of the defining contributors to what mobile telephony is today and I think we can only be proud to support this. Apart from supporting European technology, this project will also make sure that thousands of highly-skilled jobs will stay in the EU.”
Ericsson noted that invested SEK 37.9 billion in research and development during 2017. The company holds some 45,000 patents and has more than 23,600 staff working in research and development.
Share this article
Help others discover this reporting.
Editorial responsibility
Staff
Editor & Publisher
Every article published by Converge Digest is researched, curated, fact-checked and editorially reviewed by Jim Carroll, Editor & Publisher. AI-assisted drafting may be used to accelerate production, but all content is reviewed, refined and approved prior to publication.
You just read about Ericsson. One of the companies whose work it now carries:
Redback Networks built Broadband edge routers and subscriber management. What became of it?
Redback Networks brought Broadband edge routers and subscriber management to Networking. That work was distinctive enough to lead to its acquisition by Ericsson for US$2.1B. The standalone name now passes into the archive — but the team and technology continue inside Ericsson today. One of 430 names here whose work outlived the company.
You just read about All. A technology from the archive that helped get us here:
Google/Alphabet Project Loon served 2011–2021. What ultimately replaced it?
Google/Alphabet Project Loon solar-powered balloons drifting in the stratosphere (~20 km), steering by rising and falling into different wind layers, relaying LTE from ground stations to phones far below. Its job passed to Unit economics — but the problem it solved, and the ideas it proved, live on in what replaced it. The standard rests here in the archive. One of 198 technologies here that opened a door and then held it for the next.
Alexander Stubb, Vice President of the European Investment Bank, says: “The development of 5G technology is easily one of the most important innovation initiatives for the telecom industry in the coming years. Ericsson has been one of the defining contributors to what mobile telephony is today and I think we can only be proud to support this. Apart from supporting European technology, this project will also make sure that thousands of highly-skilled jobs will stay in the EU.”
