Tánaiste Mary Coughlan T.D. Announces Houghton Mifflin Harcourt (formerly Riverdeep) to invest €350m in R&D

Enterprise Ireland Secures Global eLearning Research Centre for Ireland

10th September 2008: The Tánaiste and Minister for Enterprise, Trade and Employment Mary Coughlan T.D. today announced that global educational publishing company Houghton Mifflin Harcourt (formerly Riverdeep) is to invest €350m in eLearning research and development with significant support from Enterprise Ireland.

HMH is to establish its global eLearning research and development centre in the greater Dublin area, creating 450 high-value jobs over the next five years.

Making the announcement, Tánaiste Mary Coughlan T.D. said:

"Houghton Mifflin Harcourt is recognised globally as the leader in its marketplace with an unrivalled reputation for technical innovation and excellence in education publishing.  That it has decided to locate its global R&D headquarters for eLearning here is a strong endorsement of Ireland's reputation for excellence and innovation.

"The HMH R&D centre will drive innovation in digital learning for children, globally and strengthen the e-learning industry in Ireland adding further international credibility to an industry that has already gained a solid reputation in world markets."

"This investment represents a further justification of the Government's decision to invest in the development of a knowledge economy, from the funding of basic research through to the practical supports for innovative companies like Houghton Mifflin Harcourt", the Tánaiste concluded.

Fiona O'Carroll, Senior Vice President, Digital Products R&D, HMH added:

"The new R&D centre will be a focal point for eLearning and educational innovation.  Employees, partner companies and collaborating universities will be attracted by the quality of research, people, innovation and commercialisation activity in the centre. 

"Our decision to centralise all digital development in our R&D centre here in Ireland and create up to 450 jobs is because we believe this centre provides the best hub located uniquely between east and west. The Government's vision to create a knowledge economy and to invest in people, research and innovation has been a key factor in our decision to expand our operation and their significant financial support has allowed us to base this decision on criteria beyond pure economics.

 "The Centre will involve establishing a globally networked team in Ireland with team members and innovation partners based in the US and around the globe.  A robust talent acquisition strategy is already underway. These jobs should be very attractive to seasoned technology professionals, engineering and technology graduates, highly creative thinkers and innovators in the eLearning space.  The majority of the jobs are highly technical in nature and will require 3rd or 4th level qualifications. Project management and operational skills will also be required to support the centre."

Frank Ryan, Chief Executive Officer of Enterprise Ireland added:

"The eLearning industry is a key sector of focus for Enterprise Ireland.  It has demonstrated significant growth and scale in Ireland with many of the leading Irish e-learning companies exporting to the UK, US and Asia accounting for exports of around €250m per annum. 

"All of the projects involved in this initiative have been defined as 'world class' and involve a high degree of innovation.  This level of research and development by HMH reiterates the point that with investment in R&D and innovation, Irish companies can and are achieving global scale and leadership positions."

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About HMH -

Houghton Mifflin Harcourt (HMH) is the world's largest and oldest educational publisher with over 100,000 customers, generating approximately $2.5 billion in annual revenues, profits in the region of $1 billion, 50% market share of the US preK-12 market, the world's largest education market and approximately 6000 employees.

The Irish company, Riverdeep, was founded in 1995 and as a result of a series of mergers and alliances over the past decade; it has grown rapidly and now has over 50 companies in the new corporate family known as Houghton Mifflin Harcourt.

In November 2006, Riverdeep merged with Houghton Mifflin bringing together the best in education textbooks and interactive digital curriculum. Houghton Mifflin was founded in 1832 and has a long tradition of excellence in publishing including among its authors Mark Twain, J.R.R Tolkien, and Philip Roth. In July 2007, the company acquired Reed Elsevier's US education arm, Harcourt Education Publishing.

Houghton Mifflin Harcourt also have operations and significant market penetration outside the US in countries as widespread as India, China, Saudi Arabia, Libya, UAE, Australia, Japan, Argentina, Brazil and Mexico.

To learn more about Houghton Mifflin Harcourt, visit www.hmhpub.com.
To learn more about HMH's global career opportunities please visit http://www.hmlt.hmco.com/Intl-Careers.php.

For further information contact:

For Enterprise Ireland:

Ciara O'Mahony
Press Officer, Enterprise Ireland
+353 1 8082284
+353 87 2043435
Ciara.omahony@enterprise-ireland.com