Irish IT and cybersecurity services provider Qualcom expects to increase annual revenues by €4.5m by the end of 2027, equivalent to annual growth of 10% over the next three years.

The company expects that its turnover will grow from €13.5m to €18m by 2027, in which time it will have increased employee numbers by 20% across its information security, professional services and support desk teams. Qualcom currently employs 70 people at its locations in Dublin and Belfast.

The privately-owned firm has also indicated that it is open to accelerating its growth through acquisitions, and that it would target companies that are similar in terms of services and culture.

Over the next three years, Qualcom expects to see the biggest growth in cybersecurity services, managed IT services, compliance, and round-the-clock IT support. Demand is being driven by the changing cyber risk landscape, advancements in artificial intelligence (AI), and expanding attack surfaces.

Qualcom has also seen heightened demand from customers for support around standards such as ISO 20007, and the company is rolling out a number of new cybersecurity and managed services to meet demand.

The company has forecast that it customer base will grow by more than a quarter by 2027 to include organisations spanning a broad range of industries and across the island of Ireland, with a particular focus on the retail sector in Northern Ireland.

This expected growth follows on from the company recently achieving a Microsoft designation in Azure Infrastructure, which adds to its existing Microsoft Modern Work SME and Enterprise designations.

“We live and work in an increasingly connected world, so the demand for comprehensive managed IT and cybersecurity capabilities will only increase in the years to come. That’s not to mention the pressure on organisations to be compliant with changing legislation and regulations," said Ken Ryan, managing director of Qualcom.

“To meet these evolving needs, we are scaling our operations. As well as expanding the team and adding to our portfolio, we are keeping an eye out for possible acquisitions.

"This ambitious growth plan will further strengthen the support we provide – enabling us to deliver ultra-secure services that give customers peace of mind and drive innovation, not just today but for the future.”

The latest available accounts for Qualcom Systems Ltd show the company had accumulated profits of €850,000 at the end of 2023 after making €362,600 that year, down from €435,900 in 2022.

Photo: Ken Ryan. (Pic: Supplied)