Expansion at Global Shares in Clonakilty

Posted on: 5th May, 2015

Category: News

Contributor: West Cork People

Global Shares last month officially launched its new software and three-year expansion plan, creating up to 80 jobs.

The announcement was welcomed by Richard Bruton TD, Minister for Jobs, Enterprise and Innovation at an official event in the company’s Headquarters in the West Cork Technology Park, Clonakilty.

Global Shares is an Irish owned, Irish headquartered Company, which for almost a decade has been developing highly innovative web based software solutions for companies to automate the administration of their employee equity plans. With 68 staff and overseas offices in New York, California and London, Global Shares currently works with over 150 private and public companies listed on multiple stock exchanges with participants in 100+ countries worldwide. Clients include companies such as Cargill, Morningstar, Living Social, Bwin.Party, UniCredit, Ambev and Sallie Mae. Global Shares has been supported in its growth by the Department of Jobs through Enterprise Ireland.

The expansion of Global Shares marks the culmination of a comprehensive phase of software development at the Company, which sets a new benchmark in the equity compensation industry in terms of software customisation, functionality and user experience.

An expanded Sales and Marketing team will promote and sell the product globally, with expert customer service provided by a support team of equity professionals.

The Company forecasts that revenues and export sales along with employment will more than double in Clonakilty within two to three years. Currently there are 60 staff working at the Company’s Clonakilty Headquarters in high-skilled roles spanning software development, quality assurance, CEP analysts, financial accountants and project management.

Welcoming the announcement, Minister Bruton TD said: “Employment is growing in every region of the country – but it is growing faster in some regions than others. That is why we are putting in place regional jobs plans in every part of the country, to accelerate jobs growth in every region. Today’s announcement by Global Shares is a great example of what we are trying to support around the country – here is a hugely impressive Irish company, which started a decade ago, providing cutting edge solutions to some of the biggest companies in the world, growing rapidly and soon to employ well over 100 people in West Cork. This is a great achievement for Tim and his team as well as a huge boost for West Cork, and I wish them every success in the future”.

Speaking about the expansion plans, Tim Houstoun, CEO of Global Shares said, “We have grown substantially in the last two years and we have shaped our business for this expansion. Our new equity compensation management solutions are first-class and our mission now is to communicate the strength and depth of our software and service offering to global markets. We look forward to growing our market presence in the coming years and to adding to the fantastic team of people who work at Global Shares”

Julie Sinnamon, CEO of Enterprise Ireland, said:  “A priority for Enterprise Ireland is to support entrepreneurship across the regions and develop strong, export focused, ambitious Irish companies that can win new business and jobs for Ireland. Global Shares is an exemplar of the type of company we want to work with: innovative, ambitious and determined. I congratulate Tim and all the team and wish them even greater success over the coming years as they grow to the next level”.

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