Newry-based technology firm First Derivatives clinched the top spot in the inaugural Deloitte & Touche Technology Fast 50 Awards, held in Dublin this week.

The firm posted a 981.3 per cent revenue growth over a three-year period and beat off firms such as Conduit and Trintech.

First Derivatives provides services including financial engineering, risk management, software development and systems audit.

The firm employs around 30 people in Newry but its client base is mainly located outside the island of Ireland. However, it hopes to make headway in the domestic market following its award, managing director Mr Michael O'Neill said.

"It will give us a lot of exposure in Ireland and increase our credibility among our international clients," he said.

The firm is talking to venture capitalists about securing first-round funding, to enable it to expand into the e-commerce arena, said Mr O'Neill.