Dublin's Point Theatre is to re-open as a 13,000 capacity venue with a new name this December.

Mobile phone company O2 today announced Ireland’s first ever music venue naming rights deal, which will see the Dublin docklands venue renamed The O2.

The deal was done in conjunction with worldwide music promoter Live Nation.

The venue will open its doors this December and promises to stage 150 live events each year.

The venue promises an amphitheatre design and "clear sightlines and proximity to the stage for everyone in the audience, due to its unique tiered seating design".

The Point closed its doors for the refurbishment early last year.

The phone company will also be offering ticket incentives to its customers, saying that they will have the chance to buy tickets 48 hours before they go on general release and can receive fast track entry to the venue.

The amount the company paid for the naming rights has not been disclosed.