Wednesday 13 November 2019

Derivatives secures €5m investment

Donal O'Donovan

RAPIDLY growing technology firm First Derivatives has secured a £4.3m (€5m) investment from Invest Northern Ireland. Meanwhile, Bombardier in Belfast, which employs over 5,000 people, has been boosted by a multi-billion dollar jet order.

Newry-based First Derivatives has announced a €5m grant from the Northern Ireland industrial-development authority to back a major expansion of the firm's global consultancy business.

The company supplies software, risk-management and consulting services to global investment banks and hedge funds. Its main offices are in Northern Ireland and Dublin.

The grant will support the expansion of the company's capital markets-consulting business. First Derivatives plans to add more than 350 jobs over three years in addition to the 450 that it already employs in Northern Ireland.

Meanwhile, the Belfast operations of Canadian aeronautics giant Bombardier has been boosted by an order for 50 new jets, which could rise to 120 jets in total.

The order from NetJets could be worth up to US$6.7bn (€4.8bn), Bombardier said.

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