Online document storage and collaboration firm Box has today opened its international headquarters in London.
David Quantrell, Box senior vice president and general manager for EMEA, pointed to the government's Patent Box legislation - which allows firms to pay a lower rate of tax on profits earned from its patented inventions - as one of the reasons for choosing London.
"As we expanded in Europe and witnessed growing demand for Box, we decided that London was not just an ideal location for an office, but also a great place to establish an official headquarters for our international operations.
"London is a central hub in the world economy and home to a fantastic pool of talent. Just as importantly, the UK government's Patent Box regime and other recent economic initiatives provide us with a supportive environment for continuing to grow and expand aggressively around the world."
Mayor of London Boris Johnson said: "It is fantastic news that one of Silicon Valley's finest, Box, has opted to locate their non-US headquarters in London. This comes after Box took part in my programme held during the Olympic Games last year that gave investors a taste of all that London has to offer. This arrival is further welcome evidence of London's status as a leading tech capital helped by the availability of a talented workforce, the work space and world-beating universities."
Box now employs 80 people in its London office, and Quantrell said this will grow to around 100 people by the end of year. He added that finding the right talent in London has not been a problem, thanks to a burgeoning technology sector in the city.
"We've recruited people from Google, Yammer and firms like that. The large local technology base in London has worked really well for us [in terms of recruitment]," he added.
Box has also opened offices in Paris and Munich, but London will remain the firm's international headquarters, handling all of the business outside the US.