An £18m investment by IT company Fujitsu Services is to create 400 jobs in Derry and Belfast.

The company will establish a managed IT services centre for Fujitsu's European customer base at Timber Quay in Derry, creating 328 new jobs.

A further 74 jobs are to be created at the company's existing facilities in Belfast.

Announcing the deal today, the North's Economy Minister Nigel Dodds said the entire project will bring over £24m into the local economy over the first three years.

David Courtley CEO of Fujitsu Services said: 'Derry has an advanced local infrastructure, the availability of an IT focused labour market and a very close proximity to the UK/European marketplace which made it an ideal choice'.

He added that the jobs being created will be specialist hi-quality IT services roles.