Friday 17 November 2017

Briefs: Twitter lands its new Dublin headquarters at €4.6m a year

iPhone 6s
iPhone 6s

Twitter has chosen a new Dublin headquarters. The social media giant is moving into Cumberland House in Dublin 2, adjacent to Merrion Square. Twitter will move to the building after a €27m refurbishment in the second half of next year. It will pay €4.6m per year to occupy 112,000 square feet, taking in the whole building except the fifth and sixth floors. It will also take 140 parking spaces.

Property firm Hibernmia REIT said the deal is being done on a 20-year lease, with tenant-only break options after 12 and 15 years. The statement confirms a 'Sunday Independent' report earlier this month that Twitter had lined up a deal for Cumberland House.

Hibernia acquired the 112,000 sq ft Cumberland House for €49m last March. The property also has 213 car parking spaces on a 1.6 acre site. "We are delighted to have agreed terms with Twitter for the pre-lease of the majority of Cumberland House," said Hibernia CEO Kevin Nowlan. "Once refurbished, the building will offer over 112,000 square feet of office space with the potential of further expansion in future. Once fully let we expect the building to generate a yield on cost of at least 8pc."

The Government is to spend €275m on an "initial stimulus" for the National Broadband Plan, a scheme to connect hundreds of thousands of rural homes and businesses to fibre broadband by 2020.

While the amount of broadband money is just over half the sum previously touted by the Government, Communications Minister Alex White has insisted the sum "does not represent the full cost of the National Broadband Plan". He said any remaining investment would "likely be spread over 20 years".

The Government had initially put a €510m figure on the project. "The €275m will provide the initial stimulus for the early years of the State intervention under the National Broadband Plan," said White. He said that the Government will commence "formal procurement" for tenders to build the new network by the end of 2015. The Government's original estimate of 700,000 premises may be cut short by new promises from Eir and Siro.

APPLE has set October 9 as the launch date for its latest phones in Irish shops. The iPhone 6s will cost €759 for the 16GB model, €869 for the 64GB model and €979 for the 128GB model. The iPhone 6s Plus will cost €869 for the 16GB model, €979 for the 64GB model and €1089 for the 128GB model. The phones will also be available from most big Irish operators on a subsidised bill-pay basis. The phones will be available in gold, silver, "space grey" and the new rose gold metallic finishes.

This week, Apple said that it has sold more than 13m new iPhone 6s and iPhone 6s Plus models within three days of its launch. The company said that this is the highest post-launch level of iPhone sales it has achieved to date.

Dublin based mobile analytics and engagement start-up, Xtremepush, says that it has agreed a multi-million euro deal with US ad technology giant, Gravity4. The deal will enable Gravity4's mobile customers to see mobile analytics and engagement data through the integration of its software in to Gravity4's marketing cloud.

"This deal is really significant for Xtremepush as, via Gravity4, our software will inform the in-app engagement strategies of some of the biggest brands in the US and the world," said Kevin Collins, CTO and co-founder of Xtremepush.

"The deal has propelled our software beyond the Irish market. It will now analyse consumer usage of some of the most downloaded brand apps in the world." Collins said that the startup was established 18 months ago.

PCH, the Cork-based company that designs and manufactures products for companies, is opening its product process to "prosocial" entrepreneurs through a new Clinton Global Initiative (CGI) initiative.

Under the scheme, PCH will help "prosocial" entrepreneurs turn ideas into products that "can positively impact the world". PCH defines prosocial entrepreneurs as both for-profit and not-for-profit companies developing hardware products that make a positive impact on people, communities or the environment. "We want to help make products that answer global needs," said Liam Casey, founder and chief executive of PCH. "Although hardware is hard, this fact should not be an impediment to getting genuinely life-changing products made and deployed.

"Working with partner organisations, we hope to identify and support the best prosocial entrepreneurs and help them get their products made efficiently and sustainably."

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