The hub “will seek to develop proprietary IP in applied Machine Learning and process automation in the open web cookieless digital advertising industry.”

The company is recruiting across the areas of data science, engineering, analytics and product management. Based in New York, the company already has a 500-strong workforce worldwide.

Kartal Goksel, the company's Chief Technology Officer, said: "Kargo is thrilled to be branching out into new technologies and our focus on R&D efforts is a top priority that will help meet the challenges ahead.

"Waterford has demonstrated the skills and has built a reputation for talent in our community, and we are happy to be investing in key resources for continued expansion,” he continued.

Minister for Enterprise, Trade, and Employment, Simon Coveney, said the investment is a “welcome boost to the South East, and the Government is hugely supportive of all regional investment. “

Mick O’Brien, the company’s Senior Director of Engineering, said: "With a vibrant cluster of tech companies, a highly-skilled talent pool, and excellent programmes available from SETU, Kargo has recognised the fantastic opportunity available here and is making a key investment for the future.”

O’Brien called the new hub “a big vote of confidence” in the south-east region.