Co Down based technology firm First Derivatives is to create 484 high-quality jobs in Newry.

The company, which makes financial software for the investment bankers and brokers, also provides consultancy services. It is one of only two stock market listed companies in Northern Ireland, and employs around 900 staff.

Invest NI has offered a total of £3.9million to support the group’s expansion plans as it seeks to grow its staff to almost 1,500 worldwide.

The jobs announcement was made by First Minister Peter Robinson and Deputy First Minister Martin McGuinness in Newry on Monday.

"These investments will substantially increase the capacity of First Derivatives and enable the group to develop new business in export markets," said First Derivatives, chief executive Brian Conlon.

“Critical to the success of our business is the quality of staff, and we know from experience that we can recruit excellent staff locally. Invest NI’s ongoing support continues to be essential to our growth plans,” he added.