Macalla Software, a provider of mobile Internet and multi-channel enabled software products, will hire an additional 50 people as part of an expansion in the UK.

The firm, which has opened UK headquarters in London, said the expansion would support the continuing uptake of its flagship Mobility product by financial institutions in the City.

"The UK financial services industry has been an early adopter of the new mobile economy," said Mr Ian Rosarius, managing director of Macalla Software UK.

"Many of the international financial institutions in the City have learned from their early experiences with the mobile revolution, and are now embarking on a process of evolution. They want to exploit the full capabilities of mobile technologies. This is why we are expanding our UK presence."

Macalla has already signed up Dresdner Kleinwort Wasserstein for Mobility, according to Ms Sarah Flynn, director of marketing at Macalla.

She said other deals were near completion but the banks could not be named for reasons of confidentiality. The UK expansion is being funded from the €8.6 million which was raised in second-round financing last September.

Over the next 18 months, the firm plans to hire software developers and marketing executives.

"It will be primarily be in software development to manage local implementation," said Ms Flynn.

Despite the UK expansion, the bulk of product development will remain at the company's Dublin headquarters, she said.

Since its inception in June 1998, the company has established offices in Dublin, London, New York, Madrid and Frankfurt. It employs 54 people.

This could grow to 75 in the next few months and to more than 100 in the next year and a half as the UK operation got up to strength, Ms Flynn said.