Ericsson Partners With Canadian Government, To Invest CA$470M In R&D Sites - Telefonaktiebolaget L M (NASDAQ:ERIC)

Ericsson ERIC has inked a five-year partnership with the Government of Canada to invest CA$470 million in R&D centers across the country.
Ericsson will invest in strengthening the capability of its facilities in Ottawa, Ontario and Montreal, Quebec, with a focus on 5G Advanced, Cloud RAN, 6G, AI and Core Network technologies.
The investment will also support the expansion of research facilities and staff support for quantum computing at its recently opened Quantum Research hub in Montreal.
The investment is expected to create and upskill hundreds of jobs at Ericsson's Ottawa and Montreal R&D centers over the coming five years.
It will also enable Ericsson Canada to onboard up to 60 additional interns annually to encourage ongoing academic partnerships, with most students based in the Montreal and Ottawa R&D sites.
"We are already seeing the benefits of next-generation technologies such as 5G and AI, yet we are still in the early days of their potential to transform our work, leisure, and social lives. Ericsson's R&D investment partnership with the Canadian government, supported by world-class talent in Ottawa and Montreal, will boost innovation and ultimately help to improve the lives of millions of people. We are determined to lead our industry through continued R&D investment." stated Borje Ekholm, President and CEO.
Price Action: ERIC shares are trading higher by 0.25% at $5.97 on the last check Monday.
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