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Options Technology has said it intends to double its workforce in Belfast with the creation of 150 new jobs.

It comes as the company announced the acquisition of ACTIV Financial.

Recruitment is under way with all positions expected to be filled over an 18-month period.

The company, which provides technology for the financial services sector and has clients worldwide, has expanded its presence in Belfast over the last number of years.

Its president and chief executive officer, Danny Moore, said the acquisition would help with future growth plans.

"Since setting up in Belfast in 2014, we've grown the office to be our largest location globally, attracting some of the best local talent," he added.

"The ACTIV acquisition will mean further growth for Options, and we are delighted to be able to leverage the highly-skilled talent pool in Belfast, and throughout Northern Ireland, as we continue to grow our engineering and technical support capabilities.

"We believe that merging the ACTIV data feed and software capabilities on top of the Options global network and infrastructure is probably the most impactful deal in the sector in the last decade."

The financial terms of the agreement have been not disclosed.