Symantec marks 10th anniversary with Dublin opening

The Republic's pro-business climate has made the State an ideal location for internet security company Symantec's global software manufacturing headquarters, according to chairman, president and chief executive Mr John W Thompson.

Mr Thompson marked Sym antec's 10th anniversary in the Republic by opening the company's new manufacturing facility in Blanchardstown. Symantec employs 300 people in Dublin. The company had 50 employees when it initially set up here in 1991 and had expanded significantly in the past year, said Mr Thompson. The Irish site now handles manufacturing for all Symantec's non-American markets, including Europe, Asia and Africa. "Dublin has offered us a wonderful environment, and a very business-friendly environment, from a Government relationship and tax point of view," said Mr Thompson.

Symantec, best known for its Dr Norton anti-virus software products, has made a strong push into the corporate security services business since Mr Thompson left IBM to take the helm of the company in 1999.

Symantec has also focused on expanding its global market. The non-American market served by Symantec's Irish operation now makes up 40 per cent of the company's global revenues, he said.

"The reality is that the corporate market for services grows at two to three times the rate of the security market," Mr Thompson said. "We'll never abandon our consumer business, but in order to grow we need to address both consumer and business growth."

Symantec's share price moved upwards after Mr Thompson replaced Mr Gordon Eubanks as chief executive. From a low of $13, shares rose as high as $81 at the technology market peak. Symantec has become the number two security company, behind Computer Associates with a 9.8 per cent market share, according to International Data Corporation.

Results out on July 18th showed revenues up "modestly" on a year ago, said Mr Thompson. The company is forecasting 8-12 per cent growth, and shares are now hovering in the $45 range.