Denver IT Startup to Invest Nearly $12 Million in Northern Ireland.Business Editors, Technology Writers DENVER--(BUSINESS WIRE)--Nov. 29, 2000 Avalanche avalanche, rapidly descending large mass of snow, ice, soil, rock, or mixtures of these materials, sliding or falling in response to the force of gravity. Avalanches, which are natural forms of erosion and often seasonal, are usually classified by their content such Technology of Denver is investing $11.9 million to establish an Internet-focused information technology outsourcing Information Technology Outsoucing or ITO is a company's outsourcing of computer or Internet related work, such as programming, to other companies. It is used in refence to Business Process Outsourcing or BPO, which is the outsourcing of the work that does not require so much operation in Belfast, Northern Ireland Northern Ireland: see Ireland, Northern. Northern Ireland Part of the United Kingdom of Great Britain and Northern Ireland occupying the northeastern portion of the island of Ireland. Area: 5,461 sq mi (14,144 sq km). Population (2001): 1,685,267. , the Industrial Development Board (IDB (ITS Data Bus) An interface between devices in an automobile endorsed by the Society of Automotive Engineers (SAE). Designed to fulfill the goal of Intelligent Transportation Systems (ITS), the ITS Data Bus enables engine diagnostic equipment, GPS navigation systems, ) for Northern Ireland announced today. The facility will provide IT staff on an outsource basis to major corporations operating in the high-growth e-business market. "Our choice of Northern Ireland over other potential locations in the U.S. and Europe was influenced by the superb education system, the first-class training support and the sharp focus of the region's universities on information technology," said Avalanche Chief Executive Officer Fred Crowe. "Our primary requirement is for well-educated, adaptable a·dapt·a·ble adj. Capable of adapting or of being adapted. a·dapt  a·bil and computer-literate people, including software developers, and those who can be trained to carry out essential software and e-business services for customers." Avalanche, a start-up which has received capital support from international venture capital company 3i, will provide a solution to major U.S. and U.K. corporations that are experiencing a growing IT skills shortage as a result of the significant worldwide growth of e-business. International Data Corporation projects a 13 percent annual growth in IT outsourcing (1) Contracting with outside consultants, software houses or service bureaus to perform systems analysis, programming and datacenter operations. Contrast with insourcing. See netsourcing, ASP, SSP and facilities management. demand over the next five years and a 43 percent annual rise in software spending by 2003. "The growth of e-business has resulted in a skills drought," said Crowe. "Offshore outsourcing Offshore outsourcing is the practice of hiring an external organization to perform some business functions in a country other than the one where the product or service will be sold or consumed. has been an unavoidable solution, but has created problems due to cultural, time zone and language difficulties. We believe that Avalanche has devised a completely unique approach to solving the skills crisis." 3i Investment Manager Alex Brebbia said Avalanche "combines a strong business model that addresses a growing market need for skilled IT resources with a very experienced management team." The IDB, which is providing support for the investment in Northern Ireland, said Avalanche plans to employ nearly 500 people, mostly software graduates and systems designers, at the Belfast facility by 2005. "We welcome Avalanche's investment as a further indication that Northern Ireland is rapidly gaining recognition as one of Europe's best locations for IT and Internet-focused businesses," said Bill Montgomery, IDB's senior vice president in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . Avalanche's investment is the latest in a recent series of investments in Northern Ireland by Denver-area businesses. Other Denver-area companies that have made recent investments in the region include: TeleTech Holdings of Denver, IGS/Olabs of Boulder, Colo., and Longmont, Colo.-based E-M Solutions. |
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