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.

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.