The engineering positions will be in a new European research and development centre of excellence in the city and will be filled over the next three years.

“The timing and scale of this Cadence investment is a real boost to Cork’s growing reputation as a specialised R&D hub,” said Steven Hollands, Cadence’s software engineering group director and Cork site leader.

“Due to our proximity to the University College Cork and the Cork Institute of Technology as well as to Irelands largest ICT research centre, The Tyndall Institute, we have an amazing engineering and computer science talent pool to draw from who can join us in our mission of shaping the future of technology by driving design excellence through our Intelligent System Design strategy.”

The company has had operations here since 1997, with roles in finance, engineering and IT at  a Shared Services Centre in East Wall in Dublin.

Recruitment in Cork is to begin right away.

“The Cadence decision to establish a state-of-the-art R&D Centre of Excellence in Cork is a positive addition to the vibrant and expanding technology industry in Cork,” said Taoiseach, Micheal Martin.

“We are pleased to welcome Cadences R&D presence in Cork as part of the local technology ecosystem, and we look forward to the centre providing significant employment opportunities for local residents with strong technology backgrounds.”

The investment has been supported by IDA Ireland and its CEO Martin Shanahan said it would strengthen the South West region’s expanding cluster of microelectronics and semiconductor-related companies.

San Jose based Cadence uses computational software to turn design concepts into reality.

Meanwhile, UK headquartered research, consultancy and technology development company Trilateral Research is to create 40 new roles here over the next four years.

The new roles will be in the company’s office in Belview Port in Waterford and will see machine learning, AI and software specialisms developed alongside the existing research, data protection and cyber-risk services.

The new roles will be in software development, data science and data ethics as well as administrative support.