An Internet security company is to create 29 jobs in Dun Laoghaire, Co. Dublin, over the next three years as part of a £2.1 million investment.

Accelerated Encryption Processing (AEP) manufactures a range of hardware products which speed up a computer's ability to handle encrypted data. The investment, supported by Enterprise Ireland and announced yesterday by the Tanaiste, Ms Harney, will mainly be spent on research and development, said the company.

AEP is privately owned with seed capital provided by its directors, several private investors and Enterprise Ireland.

Mr Gerry Murphy, a director of Enterprise Ireland, said companies like AEP were well positioned to exploit emerging market opportunities.