Infotel UK Consulting (Infotel UK), a software firm based in North Shields, aims to double in size with a £1million investment in new offices and recruitment.
Infotel UK started operating in 2015, delivering custom-made software and applications that help businesses improve their operations. The company aims to take advantage of increasing interest in its services from clients based in the region with the investment.
The company currently employs over 40 people and now aims to double in size in the next two years as well as adding to its customers which include Nissan Motor Manufacturing and Virgin Money.
The investment will be supported by a six-figure funding package from Lloyds Bank Commercial Banking.
Mundeep Nayyar, managing director of Infotel UK said: “The Technology sector in Newcastle upon Tyne is estimated to be worth almost £1bn and growing more than twice as fast as the rest of the economy.
“With access to leading blue-chip businesses that need Infotel UK’s services and nearly 25,000 students in higher education, the City is the ideal location to find and cultivate new talent and to grow a high-tech software business.
“It’s a perfect storm for investment as we look to offer more and better solutions to our clients while maintaining our dedication to quality customer service and delivery.”
As part of the investment, Infotel UK has moved operations from its site at Orion Business Park, North Shields to new offices in Balliol Business Park, Longbenton where it will establish its innovation lab and collaboration space.
The new office was officially opened at a ribbon cutting ceremony on November 7th attended by Infotel’s founder and representatives from North Tyneside Council and the Department for International Trade.
Minister for Investment at the Department for International Trade, Graham Stuart said: “With a wealth of investment opportunities across the UK and a growing economy, it’s no surprise that we are Europe’s number one destination for foreign direct investment. Newcastle is currently home to 25,000 students in higher education, and Infotel’s investment is further proof that the city – part of the Northern Powerhouse – is the ideal location in Europe to find and cultivate new talent and grow a high-tech software business.
“Utilising a network spread across more than 100 countries to scope out opportunities for British businesses, my international economic department is the focal point for Government to attract global investment, providing jobs and prosperity across all regions and nations of the UK.”
Councillor Bruce Pickard, Deputy Mayor of North Tyneside said: “Infotel UK has made North Tyneside its home since launching in 2015 so its fantastic news that the company has chosen to expand in the borough, which is testament to the skills and experience of our local workforce.
“This new office on Balliol Business Park marks exciting times for Infotel UK and the Council looks forward to working with the team as it continues its growth plans.”
Infotel will also invest in growing its expertise in technologies such as Block Chain, Artificial Intelligence, Big Data and is preparing to launch many projects in the Cloud with Amazon Web Services.
Nayyar added: “Businesses want a reputable and experienced partner with a global footprint that can offer cost-effective services from a local office, that’s what Infotel UK will continue to provide from our new offices.”
Rosalind Hetherington, relationship manager, SME Banking, Lloyds Bank Commercial Banking, said: “Infotel UK’s investment will not only provide physical space for expansion with new offices, but also enable the company to bring on new staff to help further develop its technological offering.
“Newcastle has a thriving technology sector, with the most recent data from Tech Nation showing an 8% growth in the number of digital technology jobs in the city between 2016 and 2017. Helping local businesses like Infotel UK create new employment opportunities and make targeted investments for growth is a key part of our commitment to helping Britain prosper. In fact, since 2011, we have grown our net lending to SMEs by 33% whilst the market has contracted by 12%.”
Infotel UK is a subsidiary of Infotel SA (France), a £187m turnover group listed on the Euronext Paris Exchange. The Infotel Group has 20 offices across Europe and the US.