Sysnet Invests Over One Million In Major Expansion

The investment will position Sysnet to expand its export footprint and meet opportunities in emerging markets, such as the Ukraine, Russia, the Middle East and Africa.

The investment is being supported through Enterprise Ireland's Growth fund which promotes the expansion of internationally trading companies through investments in staff, equipment and technology to increase competitiveness and encourage new exports.

Sysnet was established in 1989 as an open systems information technology company and in recent years has diversified into the payment card data security market developing Securus - a unique online compliance product for international banks and other organisations handling payment card data.

Making the announcement the Tánaiste said: "I'd like to congratulate Sysnet on its latest expansion programme supported by the Government through Enterprise Ireland. Growing Irish exports is fundamental to Ireland's economic recovery and this investment will propel Sysnet into its next wave of export growth by enabling them to access high-growth markets such as Russia and the Middle East.

"Internationally traded financial services is a sector identified in the Government's Smart Economy Framework which can contribute significantly to the growth of Ireland's output and employment over the medium term. More and more, Ireland's future economic success will be driven by high value added companies such as Sysnet that provide effective solutions to customer needs and enabled by use of leading edge technology.