A Belfast-based software company is planning to nearly double its workforce over the next two years to cope with growing demand, it announced today.
Aepona, a leading supplier of telecoms software products and solutions to operators worldwide, said it was accelerating its growth and expected to add around 80 new employees to its existing 120 workforce over the next two years.
A drive for new business in China, India, North America and a major deal in Russia are behind the expansion.
The company said it had raised £5 million sterling in new financing from existing investors - Amadeus Capital Partners, Polaris Ventures and Trinity Venture Capital - to fund the expansion.
The financing follows previous rounds in 2003 and 2005 and brings total investment in Aepona to around £22.5 million
The latest development follows the company's decision last year to accelerate its growth after winning prestigious contracts from a number of major telecoms operators including France Telecom/Orange Group, Sprint in the US and Bridge Mobile Alliance in Asia.
The company said its ability to perform in a competitive high-growth market had been further underscored in recent months by its success in securing significant additional sales from existing customers as well as new ones.
One of the new clients is Vimpelcom which is one of Russia's largest mobile phone operators with 53 million subscribers.
Chief executive Isaac Olasoko said the announcement marked he start of another exciting phase in the company's development.
He said: "During 2006 we decided the time was right to put the company on a faster growth path and I'm delighted that our current shareholders are fully supporting this new strategy by providing additional capital."
PA