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CyberSource to open Belfast development centre

07 May 2008  |  1193 views  |  0 Source: CyberSource Corporation

CyberSource Corporation (Nasdaq: CYBS), a leading provider of electronic payment and risk management solutions, today announced it will open a development center in Belfast, Northern Ireland.

The company expects to employ approximately 20 engineers and support staff at the new facility in its first year, scaling to approximately 60 employees within three years. The Belfast-based team will be fully integrated with CyberSource's four existing U.S.-based development centers. The plan was announced today during the US - Northern Ireland Investment Conference in Belfast.

"We are excited about the opportunity the Northern Ireland center brings to CyberSource," said Bill McKiernan, CyberSource chairman and CEO. "We work to drive ongoing innovation in ePayment management, and that mission demands top-caliber developers to keep us ahead of our global customers' requirements. Northern Ireland is heavily invested in advanced technology education, giving us ready access to an excellent talent pool. CyberSource develops solutions for merchants worldwide who are selling to an increasingly global market, so the new development center is a natural extension of our operations to tap the best available engineering talent."

Invest Northern Ireland is a public organization founded to create and sustain high value-added, internationally competitive industry in the region. It will provide CyberSource with assistance in establishing operations and recruiting staff, and is also providing development support of 840,000 pounds Sterling. This will allow CyberSource to accelerate growth in development staffing without any increase in the expected expense plan for 2008.

CyberSource will maintain its four existing development centers located in Mountain View, California, Bellevue, Washington, American Fork, Utah and in Austin, Texas. Recruitment for the Belfast facility is currently underway, and the center is expected to open during this calendar quarter.

Leslie Morrison, CEO of Invest Northern Ireland said: "CyberSource is a welcome addition to Northern Ireland's expanding cluster of global software- development companies. CyberSource's choice of Belfast is further proof that world business leaders see Northern Ireland as a preferred development site. We welcome CyberSource to our growing family of international companies."

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