Mary Harney, Tánaiste and Minister for Enterprise, Trade and Employment today (Friday 16th June 2000) officially opened the new premises of Yac.com and Advance Learning in Ballybrit Business Park, Galway.

Speaking at the official opening the Tánaiste said "these companies are a fine example of the very successful indigenous group of companies who have shown a particular aptitude for picking market niches, designing quality products and marketing them profitably on the world markets. In many of the new technologies, innovation rather than size is what matters. Your success clearly shows that small companies with limited resources can compete with the best".

Yac.com Ltd, a net-based telecoms company with over 110,000 subscribers, was founded in 1999 and currently employs over 60 research and development and administrative personnel in Galway and 20 in London. Advance Learning, founded in May 1999, is engaged in the production of interactive training courseware and employs 25 people composed of graphic designers, writers and programmers.

The Tánaiste said "the transformation of the Irish economy over the past decade has been built on the development of Ireland’s role as a centre for knowledge based activities. We are all familiar with the many big international companies who have made Ireland a location of choice for doing business. But it is important that we recognise the role played in this revolution by companies such as yours and in particular the enormous progress you have made in such a very short space of time".

The Tánaiste continued "The Irish software industry had good reason to celebrate recently when a new report by the Organisation for Economic Co-operation and Development (OECD) established that Ireland has now overtaken the US to become the leading exporter of software products in the world. Between them, Ireland and the US now account for 65 per cent of world trade in software".

"The OECD report paid tribute to the development of the industry here, noting that the Irish software sector is often cited as an example of the success of national policies aimed at developing a world class high-tech industry. We will continue to pursue the policies necessary to maintain our leading position in these industries", the Tánaiste added.

In conclusion the Tánaiste congratulated Mike Feerick, the founder of both companies, and wished him and all associated with these ventures continued success in the future.