Internet portal Yahoo is to establish its European operations headquarters in Dublin creating 400 jobs over five years.
The California-based company said 75 per cent of the jobs will be graduate level and will span website editorial, IT, financial services and customer support.
Mr Martin
The Minister for Enterprise Trade and Employment, Mr Martin hailed IDA Ireland's efforts to attract Yahoo to Ireland and said the decision was a "truly outstanding achievement for Ireland."
"IDA Ireland faced strong competition from other worldwide locations for this investment and the company's decision to locate here proves that Ireland is a serious contender for the world's largest Internet companies," Mr Martin added.
Yahoo is the most visited family of websites globally delivering 2.85 billion page views daily.
Mr John Marcom, senior vice president of Yahoo, said the decision to base in Ireland was influenced by the success of the existing operation in Dublin, the plentiful supply of high-calibre graduates and the telecommunications infrastructure available in Ireland.
The new operation will be responsible for the company's European business in three main areas.
These include a services centre, responsible for accounting and revenue activities, a web hosting centre ,supporting databases for Yahoo!'s websites and a customer support centre, comprising a multi-lingual support service and the website editorial team.