The Irish specialist software company Norkom Technologies is to create 154 new jobs in the coming two years as part of a £26 million investment programme aimed at becoming a global leader in its sector.

The company plans to expand its European base, invest significantly in R&D and product development, and make inroads on the US market. Sales figures are expected to increase by 300 per cent per annum.

The company, which has its headquarters in Dublin, provides customer relationship management products and services to clients with in excess of 200,000 customers. It specialises in the retail financial services, insurance and telecommunications sectors. Norkom's clients include Lucent Technologies, Esat Digifone, Esat Telecom, Standard Life and Nortel Networks.

The investment was announced by the Tanaiste, Ms Harney, in the US where she is on a business and investment mission where she is being accompanied by Norkom executives. The investment is to be supported by Enterprise Ireland.

"Norkom has made a significant move from a consultancy-based practice to a product-driven organisation concentrating on the development of a new suite of products and related services," Ms Harney said.

Ms Harney said she welcomed the fact that Norkom was targeting the US market which, she said, was extremely competitive. With its initial experience in Europe, Norkom was well placed to penetrate the US market and become a truly global player, she said.

Mr Dan Flinter, chief executive officer of Enterprise Ireland, said Norkom has developed a world-class product in a short period of time, and was in a large and fast-growing market which had no clear market leader.