Saturday 22 July 2017

Informatica adds jobs in major expansion

Informatica’s Anil Chakravarthy
Informatica’s Anil Chakravarthy

Sean Duffy

US data company Informatica is to create 30 to 50 jobs in Ireland, having agreed a long-term lease to take over office space at Windmill Lane in Dublin.

Informatica is a data integration software company that provides specialist cloud computing solutions for clients.

The company, led by CEO Anil Chakravarthy, has annual revenues in excess of $1bn (€930m) and counts Microsoft and Salesforce as investors.

It was bought for a fee of $5.3bn (€4.9bn) in 2015. There are about 3,500 employed at the firm worldwide. Its cloud integration services are used by over 6,000 companies.

Informatica has an office at Townsend Street in Dublin. However, the move to the Windmill Lane site will represent a major expansion of its EMEA operation.

The Windmill Lane site is being developed by Hibernia Reit, which will rent 35,000 square feet of office space to the US firm.

The site was once the home of a major recording studio, known for its links with U2, who recorded their groundbreaking album The Joshua Tree there.

Informatica is to pay €2.1m a year for the space for a minimum term of 12 years. The company will begin to pay rent from the beginning of next year.

Hibernia Reit spent €27.5m to buy the 50pc interest of its partner Starwood Capital in 1 Windmill Lane in Dublin's Docklands at the end of last year.

"We are delighted to have agreed terms with Informatica, and look forward to welcoming them to 1 Windmill Lane. The building, which has been designed for multi-let use, continues to make good progress towards expected practical completion in mid-2017, well ahead of original guidance," said Mark Pollard, Hibernia's director of development.

Goodbody stockbrokers said the news was significant for Hibernia Reit: "This is an important letting for Hibernia and the market, given that it's not Brexit-related."

Irish Independent

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