More than 1,400 jobs have been secured following confirmation that Letterkennybased company Pramerica is being bought out.
There was recent speculation over the future of the company following a planned conference call with workers.
Today it has been confirmed that a major Indian Company, Tata Consultancy has now bought out Pramerica.
Deputy Joe McHugh has this morning welcomed positive news that Tata Consultancy are coming to the North West.
“The news of Tata Consultancy, an Indian multi-national information technology provider, and a global leader in IT, chosing to establish a base in this region is great news.
“Prudential Financial Inc. will retain the Pramerica Ireland brand, which will continue to operate in Letterkenny and will still have a big role to play, with approximately 100 staff staying with them.
“This is a really important day for Letterkenny and for the North West as it is an endorsement of the talent, commitment and dedication of the workers in this region.
“I wish to commend the leadership team at Pramerica for their stewardship over the years. I saw this first-hand when I worked closely with the company in my role as Minister for Education where I visited the team and staff a number of times, and this leadership was pivotal in how they have expanded and developed a unique project for the greater good of our North West community.
“With LYIT playing a critical role in delivering top quality and skilled workers, this news today has the potential to develop further. And with LYIT well on the road to University status this news will add to the region’s reputation as the Country’s Fintech Capital.
“I wish to congratulate everyone involved in today’s positive news story. Guím gach rach ar an chomhlacht amach anseo.”