£4.5m investment to create 70 jobs at technology firm MetaCompliance
A Londonderry technology firm is to invest more than £4.5m to create 70 jobs paying an average of £27,000 as it capitalises on demand in international markets.
MetaCompliance said the new jobs will help develop the cybersecurity learning market via cloud-based solutions.
The move will generate £1.9m in additional salaries for the economy in Londonderry.
Economic development agency Invest NI is supporting the move by providing £695,000 towards the news jobs and market development activity.
The firm develops cloud software for cybersecurity and compliance. It also provides software solutions and e-learning content to educate employees on the specific dangers of a cyber attack via phishing and ransomware, helping companies minimise risk and reputational damage.
The investment is an attempt to grow its business into new markets in the US and Europe.
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Robert O'Brien, chief executive, MetaCompliance, said their ambition is to be "internationally recognised in our field of expertise". "We have seen a rapid global increase in the demand of cybersecurity products and services, particularly since GDPR has been implemented," he added.
"Invest NI's support has been fundamental to our continued growth to match this demand. Along with helping to grow our team, it has supported the development of our specialist cloud-based software solutions, and our team's talent and skills.
"This ensures that we are in the best position to advance in European and US markets."
John Hood, multi sector director, Invest NI, said MetaCompliance was already a "strongly established business within the cybersecurity sector".
"The creation of these jobs will build upon its previous success and help the company to expand its presence in the North West, the cybersecurity market, and in new markets," he added.
"We have worked with MetaCompliance for many years, helping it to reach its full business potential, and I am delighted to see the business continuing to expand and succeed.
"The creation of 70 new jobs will generate £1.9m in additional salaries into the local economy. I wish the company well in its new export development activity."
Invest NI has previously supported MetaCompliance with job creation investment in 2017, management and digital training for employee development and R&D support for its innovative Voyager and MyCompliance Cloud user awareness cloud solutions.
The company is also currently receiving support through Invest NI's Skills Growth Programme.