US software developer to establish presence here
Published 13/09/2011 | 05:00
US-based software development company Nuance Communications is poised to establish a presence in Ireland, the Irish Independent has learned. A decision to create a foothold here will be a boost for the IDA following news last week that UK firm TalkTalk is closing its Waterford call centre with the loss of almost 600 jobs.
Headquartered just outside Boston, Nuance develops voice-recognition software that is used in a variety of business sectors from healthcare to financial services.
The company employs about 6,000 people around the world and had revenues of over $1bn (€732m) last year. Among its products is an app for iphones that allows users to search the internet or even buy other apps using voice commands.
A company spokesman was unable to give specific details regarding Nuance's plans here, but confirmed the group will be broadening its operational base to include Ireland.
"Nuance continues to grow its business in Europe and as part of our plans we will be expanding our presence in Ireland," said Richard Mack, Nuance's vice president of corporate communications.
"We are excited by the new developments in this area and will discuss our plans in greater detail in the near future," he added.
Within the past few days the group has set up two companies in Ireland -- Nuance Communications Ireland and Nuance Communications International Holdings. Both companies feature Nuance chief financial officer Tom Beaudoin as a director. The firms were formed through the offices of Dublin law firm William Fry and were signed off by Nuance's senior international tax director David Mula, who's also listed as a director of one of the new Irish entities.
Nuance, which currently has its international headquarters in Brussels, reported sales in its 2010 financial year of just over $1.1bn (€805m). That was up 17.7pc on the previous year. It reported non-GAAP net income of $359m in 2010, compared to $288.4m in 2009. In its third and latest quarter of 2011 to the end of June, Nuance reported sales of $329m, a 20.4pc increase on the figure for the corresponding period in 2010.
Net income for the quarter was $41.6m. That compared to a loss of $1.5m in the third quarter of its 2010 financial year.