ServerVault, a US-based data hosting and management company, is to invest up to $150 million (€172 million) in a fully managed Internet hosting centre in Dublin. It is expected to employ 50 people.

Details of the investment were revealed yesterday by the company's chief executive, Mr Patrick Sweeney, at the Internet World conference being held in the RDS, Dublin.

The company has already invested $6$10 million in the proposed 10,000 sq ft centre in the Citywest business park. It is due for completion by the end of the year. Its total investment figure

would be close to $150 million when the centre was fully equipped with 5,000 Internet servers, Mr Sweeney said.

The company had signed a deal worth $50,000 to $100,000 to host the Internet service providers, Online.ie and Irishabroad.com.

ServerVault already has two fully managed data centres in Virginia which have US Defence Department levels of security, he said. The company would pitch for business at governmental level due to its high-level security.

ServerVault is understood to be in discussion with Eircom and Esat about gaining connectivity.