Waterford IT firm invests €13.2m in business, creating 125 cybersecurity and AI jobs

Waterford IT firm opening a new Dublin office to support expansion.

Pamela Farrell, Managing Director, HCS

Waterford IT services firm HCS is to invest €13.2m in its business expansion over the next three years, adding 125 jobs.

The investment will be funded directly from the company’s shareholders and reinvested company profits, is to support an ambitious strategy for continued growth.

The new jobs, which will be created by 2028, are in cybersecurity, risk, compliance, digital services, enterprise sales, and presales. Recruitment has already begun. The new roles will grow the company’s headcount to 175 employees across its Waterford, Cork and Dublin locations.

HCS is targeting an annual revenue of €30m by the end of 2028, with AI adoption a key driver of this growth. HCS is also opening a new office in Blanchardstown Corporate Park, Dublin. The facility, spanning 4,500 square feet, includes technology infrastructure and collaborative workspaces for employees and customers. It will support the expansion of HCS’ portfolio across cybersecurity, cloud, and digital transformation.

HCS provides services to over 350 large enterprise, mid-market, and SME organisations. Some of the most important growth segments for HCS include financial services, healthcare, hospitality, pharmaceuticals, and manufacturing. Much of the forecasted growth is expected to come from digital services, including AI-driven managed services.

Pamela Farrell, Managing Director, HCS, said: “This investment reflects our confidence that we are ideally positioned to capitalise on high-growth areas such as AI and cybersecurity. This move marks a significant acceleration in our growth plans as we look to expand our teams and bolster our presence across the country. In turn, this will enable us to meet evolving customer needs and help them to stay ahead in increasingly complex work environments.

"Having just acquired the business in November 2024, we have already made a very strong start and look forward to revealing an estimated 50% revenue increase in our first full financial year, ended 31st March 2026.

“As an Irish-owned company, we are focused on providing the capabilities and rigour that global organisations require, alongside the responsiveness and agility of a local team. This investment will allow us to continue to build on our capabilities and service offering for customers.

"Opening a new Dublin office is a huge milestone for us. The city is home to some of Ireland's most dynamic businesses, and having an enhanced base there, along with our existing Waterford and Cork offices, puts us in a stronger position to serve that market and attract talent."