Abstract. Let T 1 , . . . , T d be homogeneous trees with degrees q 1 +1, . . . , q d +1 ≥ 3, respectively. For each tree, let h : T j → Z be the Busemann function with respect to a fixed boundary point (end). Its level sets are the horocycles. The horocyclic product ofequipped with a natural neighbourhood relation. In the present paper, we explore the geometric, algebraic, analytic and probabilistic properties of these graphs and their isometry groups. If d = 2 and q 1 = q 2 = q then we obtain a Cayley graph of the lamplighter group (wreath product) Z q Z. If d = 3 and q 1 = q 2 = q 3 = q then DL is a Cayley graph of a finitely presented group into which the lamplighter group embeds naturally. In general, when d ≥ 4 and q 1 = · · · = q d = q is such that each prime power in the decomposition of q is larger than d − 1, we show that DL is a Cayley graph of a finitely presented group. This group is of type F d−1 , but not F d . It is not automatic, but it is an automata group in most cases. On the other hand, when the q j do not all coincide, DL(q 1 , . . . , q d ) is a vertextransitive graph, but is not a Cayley graph of a finitely generated group. Indeed, it does not even admit a group action with finitely many orbits and finite point stabilizers. The 2 -spectrum of the "simple random walk" operator on DL is always pure point. When d = 2, it is known explicitly from previous work, while for d = 3 we compute it explicitly. Finally, we determine the Poisson boundary of a large class of group-invariant random walks on DL. It coincides with a part of the geometric boundary of DL.
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