Derry business software company Singularity is investing over £3.5m sterling (US$5.5m) to expand its operations and create 112 jobs worldwide.
Derry business software company Singularity is investing over £3.5m sterling (US$5.5m) to expand its operations and create 112 jobs worldwide.
Singularity intends to accelerate its growth in the rapidly expanding business process management (BPM) market through increased R&D and expansion of its global solution delivery teams.
The company plans to invest in a series of innovations to its main BPM product, and to expand its presence in the telecoms, capital markets and government sectors in the UK, US and Asia.
The investment was announced by the Northern Ireland Enterprise Minister, Arlene Foster MLA, as she visited the company’s headquarters in Derry.
“We compete at the highest levels internationally and consistently win,” said Padraig Canavan, Singularity’s founder and CEO.
“Our ability to do that is based on constant innovation, hiring the best people and continuously focusing on what our customers want. We have achieved a lot, but we have even greater ambitions for the future, and we look forward to expanding our presence worldwide through the investment announced today,” Canavan.
Singularity employs over 200 staff across its offices in Londonderry, Belfast, London, New York, Singapore and Hyderabad in India, and is rated in the top 10 in its software sector by the world’s leading analysts.
The jobs created by the investment will bring staff numbers worldwide to over 300. Of the £3.5m sterling to be invested, state enterprise support agency InvestNI is providing assistance of £1.28m sterling (US$2.02m).
The investment announcement comes in the same week that Singularity was honoured by the Irish Software Association with its prestigious ‘Sales Achievement Award’, in recognition of the company’s 80pc growth in the past year and a succession of recent deals in its target sectors.
By John Kennedy
