Global IT Leader NTT DATA Acquires Londonderry’s Alchemy Technology Services

Major Global Acquisition for Northern Ireland Tech Sector

Londonderry-based Alchemy Technology Services has been acquired by global IT and business services giant NTT DATA, according to reports from BBC Radio Foyle. The Japanese multinational IT service and consulting company stated that the move will see Alchemy’s team work on major transformation projects for insurers worldwide, marking a significant development for Northern Ireland’s technology sector.

Major Global Acquisition for Northern Ireland Tech Sector
Expansion and Job Creation Plans
Shared Values and Strategic Alignment
Derry as Global Insurance Technology Hub
Company Background and Growth Trajectory

Expansion and Job Creation Plans

Alchemy founder and chief executive John Harkin described the acquisition as “very significant” during an interview with BBC Radio Foyle’s North West Today programme, indicating that the deal will create more jobs in Derry. Sources indicate that Alchemy had already taken on 40 new staff in the last year, and the acquisition is expected to generate further employment opportunities in the region., according to additional coverage

“We want a global Alchemy,” Harkin stated, according to the report. “Every deal we win can create more jobs here, and we expect to win a lot of deals particularly in the USA, particularly in North America and Canada, and particularly across Europe.”

Shared Values and Strategic Alignment

The acquisition comes after several years of partnership between the two companies, with Alchemy chairman Bruno Abril, who also serves as global lead for insurance at NTT DATA, noting that “we saw in Alchemy a good opportunity to further grow our capabilities around the insurance world.” Analysts suggest the strategic alignment focuses on Alchemy’s specialized insurance expertise and talent development.

Harkin emphasized the cultural fit between the organizations, stating that finding “a business this size and on this scale that has shared values and puts people first is very exciting,” according to the reports.

Derry as Global Insurance Technology Hub

The acquisition positions Derry as a strategic center for global insurance technology innovation. Abril confirmed that “the priority will be to create a centre of excellence based out of Derry,” leveraging the region’s established talent base in financial services technology.

Economy Minister Dr Caoimhe Archibald described the development as a “major milestone” for the north west, noting that “today’s announcement is a fantastic endorsement of Derry’s strong talent base, now showcasing on a global level, and reinforces the north west as a hub of innovation in financial services.”

Company Background and Growth Trajectory

Alchemy was founded in 2018 by John Harkin and has grown to employ more than 150 staff in Derry, with additional employees in London following its own acquisition of a UK-based insurance technology firm in 2023. The company became the first tenant of a multi-million pound office block in Ebrington Plaza last year, signaling its commitment to the Derry region.

The acquisition represents another significant development in the global information technology services sector, with NTT DATA expanding its insurance technology capabilities through the established expertise of the Derry-based firm. Industry observers suggest this move could position the Japanese multinational as a stronger competitor in the global insurance technology market.

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