The internet search engine company Yahoo! is to establish its European headquarters in Dublin.

The American firm Yahoo! is the top internet brand and the busiest internet destination. The company announced it is to locate its European operations headquarters in Dublin and by 2010 it will employ 400 people.

The new headquarters at Dublin East Point industrial zone will include group financial services, a web-server site and a customer call centre.  

Yahoo! operations director Dan Rosenweig says telecommunications infrastructure and a skilled workforce were among the main reasons it chose Dublin as its European headquarters. Three quarters of the new jobs will be for graduates with skills in information technology.

Yahoo! already has a small presence in Dublin through its Overture Services subsidiary. Minister for Enterprise, Trade and Employment Micheál Martin says while it is government policy to regionalise and diversify,

The obvious logistics for Yahoo! in considering where it was to locate was obviously Dublin.

The Industrial Development Authority (IDA) chief executive Seán Dorgan believes attracting Yahoo! to Dublin is a huge achievement.

Yahoo! is joining companies like Google, Amazon, eBay. We're getting really all of the leading companies in the internet space now.

Neither the IDA nor Yahoo! would reveal the grant assistance the company will receive and Yahoo! would not comment on the issue of union recognition.

An RTÉ News reporter broadcast on 15 February 2005. The reporter is Ingrid Miley.