The firm behind the business that was victim to a “very sophisticated cyber attack” in 2013 is to maintain its presence here, but with a reduced workforce.

Loyaltybuild — the Co Clare firm that was victim to a “very sophisticated cyber attack” plunged into the red in 2014 to record pre-tax losses of €18m. Loyaltybuild Ltd posted a profit of €1m in 2013.

The managing director of Loyaltybuild confirmed yesterday that a "very sophisticated cyber attack" 14 months ago cost the firm millions of euro in lost revenues.