Business

Belfast IT firm Neueda to create 165 new jobs with £12m investment

Belfast based digital transformation company Neueda is investing £12 million to create 165 new jobs in Belfast. Pictured are Brendan Monaghan, CEO of Neueda and Alastair Hamilton, CEO of Invest NI. Picture by Kelvin Boyes / Press Eye

A BELFAST IT firm is to almost double its workforce through a £12 million investment to create 165 jobs over the next two and a half years.

Digital transformation company Neueda, who have offices in London, Dublin and Weavers Court in Belfast, is to add to its 220 strong team of software engineers, IT consultants and data analysts as a response to sustained growth over the past five years.

The new positions to be based in Belfast will generate £5.6 million annually in additional salaries, with £2.3 million government financial support, £1.9 million of which is from Invest NI.

The significant investment is a commitment to the firm's ambitious growth strategy which will see its revenues reach £100million by 2022.

Neueda work with large organisations who have challenges with their IT systems, helping them re-engineer their organisation and introduce the latest technology to support that.

Their largest local client is the Department of Agriculture, Environment and Rural Affairs (DAERA), who they help in the administration of the Single Farm Payment. Other local companies to avail of the IT firm include Northern Ireland Electricity, Power NI and Budget Energy, while they also work within the capital markets in London, New York, Chicago and the Far East.

"We do a lot of work locally, we do a lot of work in the utilities sector, we do a lot of work in capital markets and all three businesses have grown at a rate of about 30 per cent a year for the last three, four years," Neueda CEO Brendan Monaghan said.

"That has been through hard work, good sales and great people. The success has really been built around the quality people we've been able to attract."

"Together we are building something special and we're keen to accelerate to the next level. This investment in new people will help us broaden our reach and cement our position with customers in capital markets, utilities and across the public sector."

"We're looking for a broad spectrum of skills and experience levels including FE students, apprentices and graduates to those considering a career change or who may be returning to the workforce," he said

To date roughly 30 jobs are in place, with the new positions including 130 technical roles ranging from entry level positions through to experienced software engineers and solution architects. The ambitious firm also has plans to open a New York office before the end of 2017.

Invest NI CEO Alastair Hamilton said the announcement from Neueda would enable the company to sustain its impressive growth.

"Companies can see the strength of IT development here in Northern Ireland and this is a really good place for them to develop and grow so we're delighted with the announcement that Neueda are going to add an extra 165 to the workforce."

Mr Hamilton added that the jobs would be the first of many announcements to be made over the summer.

"You should expect to see more in the next few months," he said.

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