NETGEAR to establish International Headquarters in Cork with the creation of 100 high-calibre jobs
Minister for Enterprise, Trade and Employment Micheál Martin TD today (Monday 12th June 2006) announced that NETGEAR, Inc. (Nasdaq:NTGR), a worldwide provider of technologically advanced branded networking products, is to establish its International Headquarters in Cork, with the support of IDA Ireland. Located at the UCC Technology Centre, it is expected to create almost 100 high-calibre jobs. NETGEAR designs, develops, and markets networking products for small business and home users worldwide. It offers a range of Ethernet, broadband and wireless networking products for connection to PC’s and the Internet.
The Cork operation, NETGEAR International Ltd., will be part of the company’s strategy to develop and support its international growth. It will centralise many of its currently geographically diverse activities into the Irish operation. It will have management responsibility for a variety of international operations and is already recruiting for positions in finance, technical and IT support, HR, operations and product marketing.
Minister Martin, welcoming the investment, said “NETGEAR is a company with strong brand recognition in its business internationally and is an excellent addition to the IT industry cluster in Cork. It is the first operation for the company outside of the US that will centralise many of the current geographically diverse activities into one location and we know they will find the required skills and infrastructure necessary in Cork for a knowledge based business of this kind. The new facility will support its international business and will be a replication of the parent company in Santa Clara, California.”
Patrick Lo, Chairman and CEO of NETGEAR, Inc., said ““NETGEAR is excited to announce our international headquarters given the importance of our international customer base, which has reached over 56% of sales outside North America and continues to grow rapidly. This new international headquarters is established to provide a better service to our international customers and Cork offers an ideal location due to its excellent infrastructure, multi-lingual capability, highly skilled workforce and ease of doing business.”
Note to Editor
NETGEAR, Inc. is headquartered in Santa Clara, California, US, and employs 300 people. It operates via sales subsidiaries in the EMEA region, which represents 50% of its worldwide business, and has diverse operations situated around the world that provide an array of services. As it does not have a centralised corporate operation managed from a single international site, the Cork headquarters will now provide this function.
NETGEAR sells its products through traditional retailers, online retailers, direct market resellers, value added resellers and broadband service providers. Its suite of 100 products, which includes switches, adapters, secure wired/wireless routers and gateways, enables users to share Internet access, peripherals, files, digital multimedia content and applications among multiple PCs and other Internet-enabled devices.
NETGEAR uses outsourcing partners to carry out most of its operations and third-party manufacturing services contractors in China and Taiwan to produce its equipment. It has expanded its international sales in recent years and grown in emerging markets such as China and India. In 2005, 56% of revenues came from international sales and grew by over 17% to $449 million, with a net income of $33 million.
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ETE 1584
Last modified: 12/06/2006
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