The firm Global Shares in Clonakilty has been acquired by JPMorgan for a half-a-billion dollars.
JPMorgan Chase & Co is a multinational investment bank and financial services holding company that is based in New York City.
Global Shares – which has its headquarters at the West Cork Technology Park in Clonakilty – is a leading global provider of equity compensation management solutions.
Local Cllr John O’Sullivan (FG) said Global Shares employs over 550 people worldwide in 17 offices and was winner of Ireland’s 2021 Technology Company of the Year award under the stewardship of CEO Tim Houston.
Cllr O’Sullivan said a deal of this magnitude signifies what can be accomplished in West Cork.
‘Seeing a West Cork headquartered company being acquired by a world renowned company illustrates the diverse skill set the people of West Cork can offer,’ he said.
‘This is a huge vote of confidence in rural Ireland and highlights that leading edge technology and fintech entrepreneurs can thrive outside big cities,’ he added.
Cllr O’Sullivan said he was now calling on the country’s Industrial Development Authority IDA to encourage more foreign direct investing firms to locate in West Cork.
He also said it is ‘critical’ that JP Morgan confirm that the jobs in West Cork are secure.