Shannon Development sees nearshore opportunity

20 Sep 2005

Shannon Development has taken a stake in an expanding IT consultancy that offers ‘nearshore’ services to the UK market from its base at Plassey Enterprise Centre in Limerick.

The regional enterprise agency is taking 5pc of the ordinary shareholding of Original Solutions Limited (OSL) for an undisclosed but “substantial” sum, according to the firm.

OSL, which also has offices in Dublin, offers legacy management services including compliance assessment, production support and maintenance as well as renewal strategies that help to manage the risk of older processes and systems, and adapt them for business change.

“OSL has a committed strategy since inception to provide nearshore services into the UK market,” explains Ann Slattery, development advisor of Shannon Development. “Following intensive research and careful analysis, that strategy is beginning to yield dividends in the form of tangible interest from the UK-based enterprises. We look forward to helping OSL to maximise its full potential.”

John Collins, CEO and managing director of OSL, said the funding would allow it to expand into the EMEA region and ramp up revenues.

By Brian Skelly