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June 2007
Netwatch looks over you (Business and Finance Magazine)
Netwatch looks over you
What is it?
Founded in February 2003. Netwatch is the first company in Ireland to use modern satellite and internet-based technologies to provide remote visual asset protection to businesses worldwide. Unique video transmission technology allows highly trained intervention specialists, in the Netwatch command centre, to visually monitor clients' properties and critical infrastructures.
Who's behind it?
David Walsh and Niall Kelly, the founders of Netwatch, set up the company after a close friend was set upon by an intruder when answering a traditional alarm call at his business premises. The shortcomings of traditional security systems were immediately apparent. Niall whose background is in electronics and David, an experienced sales professional, began working on an alternative security system model.
Financial situation?
The company has enjoyed significant growth since it's launch in February 2003, when they employed just three staff and had only one client. The company now employees 60 full-time and six part-time staff protecting over 600 blue-chip clients across Ireland, America and Europe. The company's turnover has grown by 1,000% from 2003 to 2006 and is on target to turnover €7 in 2007. The directors have developed growth strategies to realise a turnover of €15m by 2009.
Future plans?
Netwatch bases its product offering on the innovative technology available and invests heavily in research and development to constantly upgrade the system as newer technologies become available. In addition to commercial clients, Netwatch has begun providing sophisticated security solutions to high net worth individuals both at home and abroad. Netwatch currently looks after 25 sites in the United States, which they hope to expand to 100 over the next12 months. They have also been expanded into Europe, particularly the Spanish market where they are hoping to have 50 sites by the end of the year.
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