Ireland's Enterprise Minister Batt O'Keeffe has announced that 150 permanent jobs are to be created by the setting up of an international shared services centre in Cork city.

Leading US firm Quest Software will build the centre creating the new jobs in the cosntruction sector and then the 150 jobs in the business over the next three years.

Quest Software already has an office in Dublin but the development in Cork will be the "key international service centre for the firm's growth worldwide".

The company develops enterprise systems and network management software for businesses. The new centre, which is expected to open this month, will be based in Citygate in Mahon and the investment is supported by the Government through IDA Ireland.

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Announcing the move, Minister O'Keeffe spoke of the strategic importance of the jobs. "Eight of the world's top 10 technology firms are based in Ireland and Quest Software's move to choose Cork for the international shared services centre following a global evaluation of sites shows that we have the local talent pool, infrastructure and business environment to draw high-tech investments.

"Already, Cork has a vibrant ICT sector, with about 8,000 high-tech workers employed by IDA Ireland client firms in the county so the announcement strengthens our value proposition to the global investor community," he said, noting that about three-quarters of exports are now from the multinational sector.

"This is signalling that recovery in the domestic economy is under way and our foreign direct investment sector is outperforming many other countries in the eurozone area."

(GK)