MEMPHIS, Tenn. — A cybersecurity company is expanding its operations and locating its headquarters in Memphis, state economic development officials announced Thursday.
DEVCON will invest $2.4 million and create 161 new jobs over five years, the state says.
The company provides cybersecurity for banks, ecommerce and major brands. It was founded in Memphis in 2017, and has offices in Atlanta and London.
The headquarters will be located in the University of Memphis UMRF Research Park, which was established earlier this year. The university said DEVCON will initially bring 12-20 employees initially.
CEO Maggie Louie said the company chose Memphis for its headquarters because of the city’s reputation supporting women entrepreneurs.
“One of the reasons DEVCON has decided to move our headquarters to Memphis is the alignment with our company’s commitment to turn those conversations into actions,” Louie said. “Memphis has more female-owned businesses percentagewise than any other major city, and for me, as a female entrepreneur and CEO, this is the ideal community in which to grow even more opportunities for women.”
The company will also work with the university to develop vocational classes for the specialized jobs it’s creating.