Member Article

Vote of confidence for London as billion-dollar US tech firm opens new innovation hub

US digital giant Pivotal has today (Wednesday) launched its software innovation hub at Silicon Roundabout that will support some of the UK’s biggest businesses with their digital transformation efforts.

The tech firm, which has been valued at $2.8bn (approx. £2.1bn), will use the new flagship hub to work with its high-profile European clients, including the likes of Volkswagen and Sainsbury’s, in what is billed as a significant vote of confidence in the capital despite Brexit.

The new facility at Old Street Roundabout is set to grow to over 200 positions by the end of 2017, and will be used as a base to support UK and European enterprises adopt Silicon Valley-style software practices and methodologies.

Commenting on Pivotal’s approach, Alan Coad, Vice President and Managing Director of EMEA said: “Embracing this new way of working ushers a cultural transformation with many of our biggest customers across the automotive, banking, insurance, service provider and retail industries—allowing them to embrace Pivotal’s modern software development methodologies and next-generation Pivotal Cloud Foundry platform to maintain their leadership position.”

The timing of the announcement is, of course, not coincidental as it comes as the Mayor of London embarks on a five-day trip to North America to strengthen ties and assure investors across the Atlantic that it is business as usual in the capital.

Deputy Mayor for Business Rajesh Agrawal said London’s ‘world-class tech talent’ and ‘strong culture of entrepreneurship’ made the capital a leading destination for American tech firms like Pivotal looking to expand their European enterprises.

He added: “Having grown my own financial technology company in London, I have seen first-hand the opportunities for digital companies such as Pivotal that are looking to scale-up in London.

“I look forward to joining the Mayor and the exciting London businesses on this week’s trade mission to North America to show that London is open to business, trade, talent and collaborations with other global technology hubs such as New York and Chicago.”