NTT DATA Expands Global Insurance Technology Footprint with Londonderry’s Alchemy Acquisition

Strategic Move Strengthens Insurance Sector Capabilities

Global IT services leader NTT DATA has officially acquired Londonderry-based Alchemy Technology Services, marking a significant expansion of its insurance technology portfolio. The acquisition represents a strategic investment in specialized insurance technology expertise and demonstrates the growing importance of regional technology hubs in global business transformations.

Strategic Move Strengthens Insurance Sector Capabilities
From Local Startup to Global Player
Creating a Center of Excellence in Derry
Economic Impact and Job Creation
Shared Values and Long-term Partnership
Future Outlook and Market Position

From Local Startup to Global Player

Founded in 2018 by John Harkin, Alchemy has experienced remarkable growth, evolving from a local startup to an international technology firm with over 150 employees in Derry alone. The company’s expansion accelerated following its own acquisition of a UK-based insurance technology firm in 2023, establishing a presence in London and strengthening its market position.

“We want a global Alchemy,” stated Harkin, who will continue leading the company post-acquisition. “Every deal we win can create more jobs here, and we expect to win a lot of deals particularly in the USA, North America, Canada, and across Europe.”

Creating a Center of Excellence in Derry

The acquisition positions Derry as a strategic hub for insurance technology innovation within NTT DATA’s global operations. Bruno Abril, Alchemy Chairman and Global Lead for Insurance at NTT DATA, emphasized the company’s commitment to the region: “The priority will be to create a center of excellence based out of Derry. Their specialization on insurance, their deep expertise and the talent they have created was what took our attention.”

This development follows Alchemy’s establishment as the first tenant of the multi-million pound office development at Ebrington Plaza last year, signaling confidence in the city’s infrastructure and talent pool., as previous analysis

Economic Impact and Job Creation

The acquisition is expected to generate significant employment opportunities in Northern Ireland’s northwest region. Alchemy had already added 40 new staff members in the past year, and the integration with NTT DATA‘s global network is projected to accelerate this growth trajectory.

Economy Minister Dr Caoimhe Archibald characterized the acquisition as a “major milestone” for the region, noting that “Today’s announcement is a fantastic endorsement of Derry’s strong talent base, now showcasing on a global level, and reinforces the northwest as a hub of innovation in financial services.”

Shared Values and Long-term Partnership

The acquisition culminates several years of collaboration between the two companies. Harkin highlighted the cultural alignment, stating: “To find a business this size and on this scale that has shared values and puts people first is very exciting.”

NTT DATA’s global reach combined with Alchemy’s specialized insurance technology expertise creates a powerful combination for serving insurance clients worldwide. The partnership will enable Alchemy’s team to work on major transformation projects for insurers across global markets, leveraging NTT DATA’s extensive resources and international presence.

Future Outlook and Market Position

The acquisition strengthens NTT DATA’s position in the competitive insurance technology sector while providing Alchemy with the scale and resources to accelerate its growth ambitions. The move demonstrates how regional technology firms with specialized expertise are becoming increasingly valuable acquisition targets for global IT service providers seeking to enhance their industry-specific capabilities.

As the insurance industry continues its digital transformation journey, the combination of Alchemy’s specialized knowledge and NTT DATA’s global delivery capabilities positions the merged entity to capture significant market share in insurance technology services worldwide.