More than 200 jobs are to be created in Drogheda at the new European headquarters of a US group backed by Larry Ellison, the chief executive of Oracle.
The Minister for Enterprise Trade and Employment, Micheal Martin announced the posts would be filled over the next five years by Pillar Data Systems with the support of the IDA.
The San Jose, California-based company designs and builds computer data storage systems and the new facility will support its activities in Europe, the Middle East and Africa.
"This investment is very welcome news for Drogheda and the North-East and it was aggressively fought for against strong competition from other global locations," the Minister said.
Pillar, which is funded by Tako Ventures, LLC, the private equity firm of Larry Ellison, intends to market its data storage product - the Pillar Axiom - to the government, telecommunications, financial, energy and healthcare sectors.
Michael Workman, chief executive of Pillar Data Systems, said the company's philosophy is to provide products that make the management of computer data over a network simpler, more flexible and less costly.
"We intend to make a strong impact in the global storage market and we have an effective strategy for the global rollout of our product the Pillar Axiom - this new headquarters in Drogheda is an integral part of that strategy," he said.
"Key influencing factors in our choice of Drogheda were a favourable business environment, a high quality of life for employees and the support and encouragement of IDA Ireland.
"It is also in close proximity to Dublin Airport, which was important as European customers will be regular visitors to the site," he said.
"Pillar Data Systems can be confident of finding highly skilled IT professionals and infrastructure of international standards in this part of the country," the Minister said.
"More and more high technology companies are discovering the benefits of locating in the smaller towns throughout Ireland and Pillar Data Systems is a perfect example of the type of company we want to attract.
"It will be a valuable addition to the North East, providing high calibre employment opportunities across its business," he said. - (PA)
