Software giant in Schwyz

Palantir Technologies is planning to set up a new European hub in Altendorf, as was reported in an article in the Handelszeitung newspaper. The software corporation from the USA intends to create “skilled jobs”, as Urs Durrer, Head of Office for Economy in the canton of Schwyz, told the newspaper. Specifically, the first step is the recruitment of between 20 and 40 new software engineers.

Palantir operates in the areas of data analysis, data integration and digital transformation. Its customers include various government agencies in the fields of health and security. The group also works for private companies, such as Zurich big bank Credit Suisse. Palantir has been listed on the New York Stock Exchange for a few weeks now. The market value of the company is currently around US$56 billion, which the article notes is the same as that of big bank UBS.

Palantir reportedly wants to benefit from the economic strength and pool of highly qualified tech experts offered by the canton of Schwyz. As Urs Durrer highlights, the proximity to the Zurich region and Zurich Airport are part of the draw, too. What’s more, clusters for health tech, fintech and artificial intelligence have respectively developed in the regions of Pfäffikon, Altendorf and Lachen in recent years. Alongside Palantir, companies such as BASF, Estée Lauder and IKEA have settled in the region.