111 High Level Jobs To Be Created At Norkom With The Support Of Enterprise Ireland

This investment is expected to create 111 high level jobs in Ireland, 70 of which will be in research and development.

Norkom Technologies supplies global financial services organisations with financial crime and compliance software to prevent money laundering, terrorist financing and fraud. It is one of Enterprise Ireland's scaling clients., a small or medium sized company that Enterprise Ireland has identified as having particularly strong potential for rapid and significant growth.

Norkom has committed to invest €11.4 million from 2008 to 2010. Enterprise Ireland's investment is being made in support of this plan and will be paid at agreed milestones. Overall, the investment will fund expansion plans in Norkom which will enable the company to significantly scale up its growth within the next three years.

Paul Kerley, Chief Executive Officer of Norkom said: "Going forward we aim to consolidate our position as an international market leader and gain recognition as a provider of innovative enterprise-wide financial crime and compliance solutions dedicated to the financial services sector. We continually invest in developing our products and services in line with client and market needs and our investment in R&D, combined with funding support from Enterprise Ireland, will enable us to further accelerate our global growth strategy."

Patricia McLister, Head of Scaling, Enterprise Ireland added: "We are delighted with the success of Norkom. Having worked closely with the company over a number of years, we are proud to see it taking this next significant step toward achieving true international scale."

"Norkom has built a solid international reputation for its thought leadership and ability to deliver market led solutions for Tier One financial institutions."