The investment would increase Aveva's personnel in the north-west, according to the Cambridge-based company, which originally established an office in Derry in 2015.

According to the company, the expansion would concentrate on product development and establish a second R&D centre. Software to handle large data sources for clients would be part of this, and the new location will enable the business to satisfy expanding demand.

Iju Raj, executive vice-president of R&D said , they have chosen to grow in Northern Ireland because of its robust talent pool, close relationships to nearby colleges, and effective graduate and placement programs.

"The abundance of talent in the north west and the support, advice, and guidance we've received from Invest NI are the main reasons we chose to expand in Derry," he stated.

"We will be able to maintain our competitive edge in the global market by creating products that keep us at the forefront of technological advancements thanks to this R&D centre."