This research and technology development centre will employ Lithuanian IT specialists to develop future releases of xStreamTM, VIRTUSTREAM’s secure, high availability, enterprise-class hybrid cloud solution. The features developed in Lithuania will be used by VIRTUSTREAM’s enterprise clients throughout the world.
“We chose Lithuania for its highly qualified labor pool. We had been working with a Invest Lithuania agency and have now decided to establish our own office,” said Kevin Reid, CEO and CTO of VIRTUSTREAM. “We were drawn to Kaunas because of its strong reputation in the high tech and computer science fields, and by the opportunity to work directly with the Kaunas University of Technology (KTU).”
VIRTUSTREAM’s Lithuanian team will include highly qualified IT specialists: programmers, software testers and system administrators, who will receive training on the specific practices of the company and the latest market trends. Aside from the direct investments into the venture, VIRTUSTREAM is partnering with KTU through an endowment of over 300 000 Litas for joint research facilities. Furthermore, VIRTUSTREAM, together with KTU, is planning to develop a new cloud computing syllabus. The company’s employees will give lectures at the university and KTU students will be given internships with the company, providing them with excellent prospects for future employment.
“VIRTUSTREAM is a global company, which could have established its new affiliate anywhere in the world. The excellent experience they had working with Lithuanians encouraged them to choose Lithuania as their first market outside of the USA. This investment is a fine example of how Lithuanians working with foreign companies draw them to invest in Lithuania,” said Milda Dargužaitė, managing director of Invest Lithuania.
Invest Lithuania advised VIRTUSTREAM on the investment conditions in Lithuania, establishing a company and searching for staff.
About VIRTUSTREAM
Virtustream is a leading cloud innovator offering enterprise class cloud software and IaaS for enterprises, governments and service providers. Virtustream simplifies moving complex IT to the cloud - whether private, public or hybrid – while delivering the full economic and business benefits of the cloud. Virtustream offers xStream: a secure, high availability, enterprise class hybrid cloud solution, delivering application level SLAs for mission critical applications (SAP, Oracle, Microsoft and thousands more). xStream is available as software for existing data centers and as a managed service from Virtustream's cloud – all backed by professional services to design, migrate, and manage clouds. Virtustream offers xStream worldwide; owns data centers in the U.S. and EMEA; operates an international Cloud Exchange; has offices in San Francisco, New York, London, Washington D.C., Atlanta, Toronto and Dublin and has partners in Asia and China.
About Invest Lithuania
Invest Lithuania is a Lithuanian government agency that provides free advice and introductions to on the ground experts for global companies interested in doing business in Lithuania. The agency serves as a point of contact for foreign companies, and guides international businesses through every step of the process of setting up operations in Lithuania. Invest Lithuania also provides information on Lithuania's highly-skilled yet cost-competitive labour force, tax incentives, and financing options. The agency has worked with numerous well-known global companies that have taken advantage of Lithuania's many incentives to expand their businesses by placing some aspects of their operations in Lithuania.
