60 new jobs as Dublin firm Sysnet invests €1.27 million in expansion

3 Nov 2009

Dublin information security consultancy and services company Sysnet is creating 60 new jobs as part of a major €1.27-million expansion plan supported by Enterprise Ireland.

The investment will position Sysnet to expand its export footprint and meet opportunities in emerging markets, such as Africa, Russia, the Ukraine and the Middle East.

The investment is being supported through Enterprise Ireland’s Growth Fund, which promotes the expansion of internationally trading companies through investments in staff, equipment and technology to increase competitiveness and encourage new exports.

Irish growth

“Internationally traded financial services is a sector identified in the Government’s Smart Economy Framework that can contribute significantly to the growth of Ireland’s output and employment over the medium-term,” said the Tanaiste and Minister for Enterprise, Trade and Employment, Mary Coughlan TD.

“More and more, Ireland’s future economic success will be driven by high value added companies such as Sysnet that provide effective solutions to customer needs and enabled by use of leading-edge technology,” the minister said.

Sysnet was established in 1989 as an open-systems information technology company and in recent years has diversified into the payment-card data-security market developing Securus – a unique online compliance product for international banks and other organisations handling payment-card data.

Branching out internationally

“This latest investment demonstrates our commitment to our international expansion goals, it will enable Sysnet to fully exploit the many opportunities identified in both new and high-growth markets,” Gabriel Moynagh, general manager of Sysnet, explained.

“We already have established relationships in more that 30 countries worldwide and this next stage in our international development will greatly increase our global footprint, taking us closer to our goal of becoming the leading international provider of information security assurance and payment-card industry compliance services.”

Enterprise Ireland’s head of Internationally Traded Services, Kevin Sherry, said Sysnet’s growth and success over the past 20 years reflects the company’s strong capability to evolve and diversify to meet new and emerging opportunities in their market.

“The company is currently well positioned in the market to grow substantially through their scalable business model. Sysnet’s track record of investment in innovation and product development positions the company for its next wave of growth and Enterprise Ireland is delighted to support its expansion and drive for further growth,” Sherry said.

By John Kennedy

Photo: Tanaiste and Minister for Enterprise, Trade and Employment, Mary Coughlan TD.

John Kennedy is a journalist who served as editor of Silicon Republic for 17 years