ONE of Canada’s fastest growing companies is opening a research and development centre in Caerphilly aiming to create 100 jobs.

First Minister Carwyn Jones announced that Vancouver headquartered Appnovation Technologies is coming to the town during a meeting with the President and CEO of Appnovation, Arnold Leung, at the company’s offices in Montreal.

During the discussions Mr Leung outlined ambitious expansion plans for the Caerphilly centre to potentially become Appnovation’s European headquarters with a view to creating 100 additional high quality jobs.

The £2.6m investment by Appnovation Technologies, an IT services firm specialising in web, intranet and mobile application development using open source technologies, has been supported by the Welsh Government with £690,000 business finance.

It will create 25 highly skilled jobs, 80% of which will carry salaries in the region of £50,000.

The First Minister said: “This is exactly the type of high quality investment we want to attract to Wales and I am delighted Appnovation has chosen Wales as its base to expand into Europe, the Middle East and Africa.

"Appnovation works in one of our key economic sectors and I am delighted to welcome the company to Wales where it will be able to recruit the high skilled employees they need to take their business to the next level."

The company’s new offices are based in Caerphilly’s Innovation Centre for Enterprise (ICE).

“I wish the company every success at its new centre in Caerphilly which will play a key role in developing new systems and services enabling Appnovation to meet the growing demand for its services,” added the First Minister.

Appnovation CEO Arnold Leung said: “Our new Wales R&D centre will allow us to provide open source management services on a much more international scale.

“With Wales’ close proximity to Europe and vast business resources, it was an easy decision to move forward.”

With offices in North America and Europe, Appnovation's expanding team delivers projects around the world, for clients such as Samsung, Intel and Time Inc.

Last month Appnovation Technologies was included in this year’s PROFIT 500 list by Canadian Business Magazine.

The list profiles Canada’s fastest growing companies and ranks them based on five-year revenue growth.

This year the IT services firm was ranked 70th out of 500 companies nationwide.

According to the PROFIT rankings, Appnovation has shown a massive 1023% growth over the past five years.