Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
DataArt, a major US enterprise software development company, announced its decision to establish offices in Cyprus. Over 50 people will be hired in Cyprus, and at least another 50 will be relocated from abroad.
According to Eugene Goland, DataArt's CEO, the decision to launch offices in Cyprus was made because the island provides an ideal base to expand their European presence and an access to new markets, moreover Cyprus provides a local highly skilled talent pool. The expansion was made possible through the new incentives established by the Cypriot government regarding foreign companies, and Invest Cyprus- the investment promotion agency of the Government of Cyprus- has been an excellent partner throughout this process. As of October 2022, there is no information on when the new jobs will be created.
DataArt employs more than 6000 people worldwide (according to data from August 2021), and, in addition to the US, is active in countries in Asia, Europe and the Americas, including, inter alia, Argentina, Kazakhstan, Germany, Poland, the United Arab Emirates and the United Kingdom.
Eurofound (2022), DataArt, Business expansion in Cyprus, factsheet number 107522, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/107522.
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