Technology company Palantir will relocate its data processing for UK clients as it seeks to avoid tightening regulation and security threats.
By the end of next year Palantir will offer clients, which include the NHS, the Cabinet Office and the Ministry of Defence according to the FT, the option to have their data processed domestically claiming that the move will better protect against hacks and data leaks.
The company announced today that it will expand its London Headquarters with plans to take on 250 new staff, making the UK home to Palantir’s largest office.
“Protecting the security and sovereignty of client data is absolutely central to everything Palantir does,” said UK lead Louis Mosley.
“This multi-million pound investment and the jobs it creates underlines our commitment to the UK, while reassuring our UK customers that we continue to do all we can to ensure their data is protected from a range of threats – from hacking to geopolitical tensions.”
It comes ahead of new laws governing cross-border data flows which will affect all businesses which operate on the internet. Estimates by risk management consultancy Leviathan Security Group claim the new regulatory regime could increase costs by as much as 60 per cent.
Palantir is based in the US and employs 600 people in the UK and processes highly sensitive data from British public institutions.