£6.6 million investment in software company could create 175 jobs

May 25, 2007

A £6.6 million investment in Belfast based software development company, Liberty Information Technology, could create 175 jobs.

This Invest Northern Ireland backed expansion of American owned Liberty Information Technology (LIT), will help the company develop new IT products and services.

Announcing the investment, Economy Minister, Nigel Dodds said: “The £6.6 million project is a further endorsement of the skills that Northern Ireland has to offer the international financial and IT sectors. We have a talented pool of graduate and experienced software professionals whose abilities are increasingly attracting and retaining investment from around the world.

“Liberty is an internationally respected firm whose growing presence here will consolidate Northern Ireland’s position as a key location for inward investment. Today’s announcement will significantly benefit the economy by generating an expected additional £6.7 million a year in salaries by 2010. This is the fourth investment made by Liberty Mutual since 1997, and is testimony to the strength of the Northern Ireland product.”

Liberty Information Technology is owned by US insurance company Liberty Mutual Group. LIT provides software application development and maintenance services to the parent company.

Mark Cressey of Liberty Mutual added: “We considered a number of locations for this latest investment, however Belfast offered us the most attractive option. Since locating here in 1997, our Northern Ireland base has continued to deliver major global successes for Liberty IT. The availability of skilled, high quality IT graduates and experienced software developers here, coupled with the support of Invest NI have been key to our success, and we look forward to develop further the capability of our Belfast operation.”

The investment will allow the company to develop capability in new technologies and develop business analyst skills specific to the insurance and financial services industries. This will enable the company to undertake a wider range of work and independently develop new products and services that can continue to provide high quality IT solutions to the parent group

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