Leading global payments company YapStone will base its international headquarters in Drogheda, Co Louth.
Today (16 November), YapStone announced that it will invest €41m in the creation of 200 new jobs in Drogheda.
The payments firm originally established its Irish operations in 2012, and its leadership team decided to grow its presence here in Ireland by establishing a product development centre at the Louth premises.
Recruitment is set to start early in 2018, with the company on the hunt to fill more than 200 highly skilled engineering and technology positions over the next five years.
The investment is supported through IDA Ireland, with IDA CEO Martin Shanahan saying: “This significant expansion of Yapstone’s Drogheda international HQ to include a product engineering development centre is great news for Co Louth and the border region, and demonstrates substantial further commitment by the company to the region.
“It will serve as an excellent reference site for IDA in marketing this key regional location.”
Co-founder and CEO of YapStone, Tom Villante, said: “Partnering with the Irish Government is one of the best decisions our leadership team has made.
“We have hired tremendous talent in Ireland, and they have played a major role in YapStone’s success and international expansion. It was a natural decision for us to expand our investment in Irish talent into technology.”
Minister of State at the Department of Finance, Michael D’Arcy, TD, said: “It’s great to see them now expand operations, especially as the addition of a product engineering development centre is an important strategic development, central to its future growth.
“It’s a huge endorsement of Ireland, and Drogheda, as an excellent location for this type of business, including the availability of a strong talent pool.”
Sanjay Saraf, CTO at YapStone, described Irish tech talent as “exceptional” and he said the company is “very excited to employ Ireland’s finest software engineers and build technology IP that will further revolutionise digital payments for shared economy and global marketplaces”.
An Tánaiste and Minister for Business, Enterprise and Innovation Frances Fitzgerald, TD, said: “I am really delighted that already the company have decided to expand its business here, with the creation of an additional 200 jobs.
“The Government has been driving job creation in locations which are away from the bigger cities, and this expanded operation, involving so many highly skilled technology jobs, is a great vindication of that policy.”
Boyne Viaduct, Drogheda. Image: Alena 11/Shutterstock