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Report: First Derivatives could add 200 jobs

First Derivatives Plc is understood to be in the concluding stage of discussions to acquire more land in Newry, Northern Ireland, the Irish Independent reported.

First Derivatives employs 1,800 people, mostly in Northern Ireland and Ireland, and could add a further 200 jobs once the new site in Newry is acquired. The company produces financial analysis software for investment banks, the Irish Independent noted.

The move comes as IDA Ireland, the country's agency in charge of attracting foreign direct investment, looks to encourage First Derivatives and other financial services firms in Northern Ireland to expand into the Republic to serve U.K.-based financial institutions expected to relocate business after Brexit, according to the Aug. 13 report.