Page last updated at 09:40 GMT, Thursday, 2 April 2009 10:40 UK

Newry firm expands in Australia

London currency trader
Traders all over the world use First Derivatives' software

The Newry company First Derivatives has bought an Australian firm for £1.5m.

First Derivatives employs more than 250 people and provides software to some of the world's largest financial institutions.

Its Australian acquisition is Hologram, a technology company specialising in risk management and data management.

First Derivatives' chief executive Brian Conlon said the move will help them grow in the Asia Pacific region.

The company's customers include nine out of the top 10 investment banks.

Last year it paid $20m for a US company called Market Resource Partners (MRP) based in Philadelphia.

Earlier this year it announced it was creating more than 140 jobs as part of a major expansion.

Mr Conlon said: "The skills of Hologram's executive team complement those of First Derivatives extremely well.

"The Hologram principals have a track record of developing and marketing enterprise software in our domain and this expertise adds to our team of world class technology professionals.

"We continue to invest significant resources in research and development and the acquisition will help us expand our range of applications and adds corporate treasuries to our target customer base."

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