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Neueda, the Belfast software company, has been bought by Dublin-based Version 1.

Version 1 already has a substantial presence in Belfast and is currently recruiting about 200 people.

Neueda has customers across the public and private sectors with particular experience in financial services, and has been growing rapidly.

The company saw its revenues rise by 38% to £32m in 2020.

Neueda employs about 300 people while Version 1's Belfast operation has 200 staff.

The combined business will have almost 2,000 employees across its global operations and forecasts revenue of €200m (£170m) in the next year.

The financial terms of the deal have not been disclosed.

Neueda was founded by Brendan Monaghan and David Bole in 2006 with Mr Monaghan as majority shareholder.

Version 1 chief executive Tom O'Connor said the deal brings a "highly-skilled and specialised technology team" into the business.

The Neueda executive management team, including Chief Executive Paddy O'Hagan, will join the Version 1 team.