IT company creates 26 posts at new city office

Over 20 new jobs have been created by an IT firm which is setting up a new office in Belfast. Version 1 is to create 26 highly-paid, specialist jobs at an Oracle Competency Centre in the city. Invest Northern Ireland has offered £359,000 of support, part-funded by the European Regional Development Fund. The firm employs 300 staff at its Dublin headquarters and regional offices. The new centre in Belfast will further enhance the company's ability to provide market-leading Oracle business solutions and support services to international businesses across all industry sectors. Privately-funded since its inception in 1996, Version 1's major shareholders are founders Justin Keatinge, John Mullen and company director Tom O'Connor. The company has grown strongly in recent years; revenues increased by 40% in 2011 to €24.5m (£20m) and forecasted growth in 2012 stands at 25%. Mr Keatinge said that the investment strengthens the firm's expertise and leadership in Oracle technology. "We have been very impressed by the calibre of IT professionals in the region and are looking forward to building a strong and successful team in Northern Ireland," he said. "Invest NI's support has been central to our decision ... and we anticipate the Oracle Competency Centre will play an important role in the continued growth of Version 1." Enterprise Minister Arlene Foster said that Version 1's decision to invest in Northern Ireland, rather than in the other locations it considered, reflects its confidence in the quality of the Northern Ireland workforce. "The ICT industry is recognised as being extremely important to future economic growth in Northern Ireland and Invest NI worked hard to secure this investment which will further strengthen the region's standing in this sector," she said.