After nearly six months of negotiations, the Government has signed a formal agreement with the Massachusetts Institute of Technology for the establishment of a new research institute in Dublin, Media Lab Europe (MLE).

The deal finalises details for the £130 million (€165 million) institution, first announced on December 3rd. MLE will be an independent branch of MIT's well-known Media Lab, run by Prof Nicholas Negroponte. Prof Negroponte will also be the interim director of the Dublin lab and its chairman.