A Belfast company is investing £3.6 million in the development of new software products for the telecommunications industry in a project which is expected to lead to the creation of 114 new jobs over the next two years.

It is being supported by a grant of more than £900,000 from the Industrial Development Board.

Apion Limited was set up in July 1995 as Aldiscon NI, the subsidiary of a Dublin-based telecommunications consultancy. The company name was changed to Apion following the acquisition of its parent company by Logica plc in September last year. It currently employs 106 people, and its turnover last year was £4.85 million.

Denis Murphy, managing director, said that the decision to reinvest in Northern Ireland was based on the availability of high-quality graduates.

"People are the key to success in this business," he said, "and this latest phase in our growth will focus on strengthening our expertise through the training and development of our staff."

Mr Murphy said that the jobs being created as a result of the investment would be from emerging state-of-the-art technology areas within the telecoms industry.

"The work will be very challenging," he said, "requiring potential employees to have a comprehensive knowledge of a wide range of core competencies. They will also be expected to undergo in-depth training."

Mr Adam Ingram, the North's Economy Minister, said that Apion was an example of a company which had recognised the advantages offered by the availability of highly-qualified computer graduates.