A global IT and quantum tech firm has officially established its Canadian headquarters in Calgary, bringing with it investment and hundreds of expected jobs.
Mphasis uses the principals of quantum physics to assist companies with everything from cloud services to secure communications. CEO Nitin Rakesh said he hopes to have 300 employees working in Calgary by the end of 2022 and close to 1,000 jobs created within the next 24 to 36 months.
“Think of us as the specialists who come with an understanding of the technology and an understanding of the business that you’re in, and how do you bring it together to solve business problems,” said Rakesh. “(We have) 37,000 employees globally, deep roots in financial services, banking, insurance, high-tech. So, effectively, it’s really a company that has very, very deep technology roots, but with a very clear view of how to use tech to solve business.”
Mphasis originally announced its intention to invest in Calgary last year, with that commitment coming through Tuesday as the company showcased its downtown office space overlooking the city’s core.
Mphasis, which boasted revenues of $1.6 billion in the 2022 fiscal year, has offices in New York, Bangalore, Mexico, Taiwan and Costa Rica. Rakesh said he felt his company needed another headquarters in North America, choosing Calgary over a slew of other cities due to the “vision” for the future shared by the provincial
government and University of Calgary, which Mphasis will partner with.
“They were not looking for short-term gains, they were willing to back a long-term vision,” said Rakesh. “That vision was oil and gas is great but can we actually look at the future? Can we start investing in building a tech hub?”
Mphasis will partner with the U of C to create a hub at the university that will help students get experience in the field before they graduate. President and vice-chancellor Ed McCauley remained vague on the details of the partnership, saying more announcements will be coming, but said it will look at how the school and Mphasis can support talent and research to promote development.
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“The partnership with Mphasis is, again, really about helping to activate Calgary as a quantum city,” said McCauley. “It’s not just about quantum computing. It’s about how we use quantum science to support areas of secure communication, areas of finance, areas of energy, areas of looking for new health solutions.”
He said the partnership and the opportunities it brings to students to work and learn will be a big plus for those enrolled at the university.
Jobs, Economy and Innovation Minister Doug Schweitzer said the decision by Mphasis to invest in Calgary will help with the long-term vibrancy of the city and will create many opportunities for Albertans. He said the announcement Tuesday is the culmination of a lot of work from several partners, as well as long-term investments made in the tech industry.
“You have all this diversification happening in Alberta. We’ve talked about it for decades and decades in our province. And it’s tangible, it’s real. And it’s hit the critical mass point in our province, where Alberta truly is a tech hub in our country,” said Schweitzer.
The announcement marks a win for Calgary, said Coun. Terry Wong, whose Ward 7 encompasses downtown. He said it’s important the city can redefine its downtown business from its history rooted almost entirely in the agricultural and oil and gas industries.
“If Calgary’s going to be that diverse economy that people around the globe want to see, we need to diversify ourself to the clean tech industry and the financial tech industry, as well as the hospitality and tourism industry,” Wong said.
Wong, alongside fellow Coun. Courtney Walcott, is travelling to Toronto on Tuesday to view that city’s tech district.
— With files from Jason Herring.