Global Shares has announced a major expansion plan which will create 80 new jobs over the next three years. The company which develops software for managing employee equity plans currently employs 60 people in Clonakilty and has offices in New York, California and London. Its clients include companies such as Cargill, Morningstar, Living Social, Bwin.Party, UniCredit, Ambev and Sallie Mae.

The expansion of Enterprise Ireland supported Global Shares marks the culmination of a comprehensive phase of software development at the Company, which sets a new benchmark in the equity compensation industry in terms of software customization, functionality and user experience. The company predicts that its revenues and export sales along with employment will more than double in Clonakilty within two to three years.

Speaking about the expansion plans, Tim Houstoun, CEO of Global Shares said: “We have grown substantially in the last two years and we have shaped our business for this expansion. Our new equity compensation management solutions are first-class and our mission now is to communicate the strength and depth of our software and service offering to global markets. We look forward to growing our market presence in the coming years and to adding to the fantastic team of people who work at Global Shares”.

Welcoming the announcement today, Minister Bruton TD said: “Employment is growing in every region of the country – but it is growing faster in some regions than others. That is why we are putting in place regional jobs plans in every part of the country, to accelerate jobs growth in every region. Today’s announcement by Global Shares is a great example of what we are trying to support around the country – here is a hugely impressive Irish company, which started a decade ago, providing cutting edge solutions to some of the biggest companies in the world, growing rapidly and soon to employ well over 100 people in west Cork. This is a great achievement for Tim and his team as well as a huge boost for west Cork, and I wish them every success in the future”.