QUMAS to invest €4.4m in R&D

Minister for Enterprise, Trade and Employment Micheál Martin today officially opened QUMAS’s new Research and Development Centre at Cleve Business Park, Cork.

Minister for Enterprise, Trade and Employment Micheál Martin today officially opened QUMAS’s new Research and Development Centre at Cleve Business Park, Cork.

He also announced a further major R&D investment of €4.4m by the company, with support from Enterprise Ireland.

The investment will lead to the creation of 40 new high-value jobs, 26 of which are dedicated R&D roles, during the next two years at the company’s Cork headquarters.

“QUMAS is an Irish company with a leadership position in the global market for enterprise compliance solutions,” said Mr Martin.

“QUMAS’s development of an R&D Centre, together with a €4.4m programme of R&D investment will enable the company to develop customer solutions that respond to changing market demands.

“QUMAS is an excellent example of an Irish company in a growth sector, with a competitive advantage that is deeply rooted in research, development and innovation.”

Commenting at the announcement, QUMAS CEO Paul Hands said: “We aim to improve our market penetration in the US and Europe where we are targeting incremental sales in excess of €40m over the next five years.

QUMAS provides enterprise governance, risk and compliance management solutions that address a range of regulatory directives for companies in the life sciences and financial services sectors.

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