Paradyn to Invest €4 Million in More Acquisitions and Creating 40 New Jobs
Paradyn, Ireland’s only end-to-end IT and communications service provider, plans to double its workforce from 40 to 80 employees by 2020, with positions in both its Dublin and Cork offices. The new jobs are being created as part of a €4 million investment that will fund company growth and acquisitions.
Paradyn is the newly created company formed as a result of the merger of Exigent Networks, Irish Telecom and Netforce. It actively manages more than 30,000 users across 300 business and public sector customers from a range of industries. Its current turnover is €8 million and as part of its ambitious growth plans, it will double this to €16 million in the next three years.
The growth will be driven by the innovation of new services in the areas of security, networking and IT, as well as cross-selling to existing customers, new business development and further company acquisitions. The company will acquire complementary businesses in the Irish market.
Cillian McCarthy, Paradyn’s CEO, commented: “Acquisition is a key strategy for us. We are on the lookout for other IT, communications and information security businesses which can integrate into the company to add further to our unique ability to deliver more secure and easily managed technology infrastructures to our customers so that they can generate a higher return on investment on their IT and communications systems.
“Following the merger we announced in March, Paradyn is already Ireland’s only one-stop managed service solution for IT, telecoms, security, network and business connectivity, and our goal is to continue to expand that unique proposition. Under a single service agreement we can build, monitor and securely maintain every aspect of a customer’s IT and communications infrastructure.
“The value of this integrated solution for customers is evident in many ways. At the heart of this is the fact that we can see all elements of a customer’s IT, security, communications and network infrastructure. The results are remarkable. We have recorded a 30% improvement in the speed of problem resolution, a significant reduction in customers’ time spent managing IT and a 15% lower total cost of IT ownership.”
Paradyn has already started recruiting for the new roles, which will help to support its expanded managed services. The company will fill positions primarily in the areas of finance, network engineering, technical solutions architecture, technical sales and support, marketing and business development.
Pictured are (L-R): Paul Casey, COO, Paradyn; Cillian McCarthy, CEO, Paradyn; and Rob Norton, CTO, Paradyn. Photo credit: Steve Langan.