Tánaiste Welcomes Announcement by Bank of Ireland and NOVA Corporation

Mary Harney, Tánaiste and Minister for Enterprise, Trade and Employment welcomed today’s announcement from Bank of Ireland and NOVA Corporation of their agreement in principle to establish a new joint venture - EuroConex - specialising in payment processing and business to business e-commerce services.

"I look forward to the successful conclusion of negotiations with IDA Ireland on the details of this significant project, which will generate over 500 new jobs," said the Tánaiste.

"I have been involved, through IDA, in discussion with NOVA, in the US, in relation to the possibility of them locating a European base in Ireland for well over a year and have visited their corporate headquarters on a number of occasions to progress discussions. Their decision to partner the project with Bank of Ireland will be beneficial both to NOVA and to the Bank and will be a most welcome sharing of each other’s experience and skills in the technology and in the markets. Such a partnership by a leading Irish financial institution with a leading US service provider is a positive strategy to strengthen the base of expertise and service in Ireland, while advancing a global strategy for both companies."