Swedish telecommunications infrastructure company Ericsson will create 250 new highly skilled jobs at Athlone.
Roles will be added over the next three years at its research and development campus in the city.
Positions will include software developers, data scientists, architects, cloud and mobile communication engineers at all career stages.
The company currently employs 1,200 people in the city of Westmeath, where it has been present since 1979, and a further 200 in Dublin.
“This announcement highlights our global reputation as a world-class R&D software development center,” said Denis Dullea, director of research and development at Ericsson Athlone.
“Our team here already plays a critical role in developing Ericsson products, services and solutions that enable Ericsson to deliver limitless connectivity that makes the unimaginable possible.”
The company’s Irish operations have grown by a quarter in the last five years as a result of earlier investments.
The Athlone campus acts as the global R&D headquarters for Ericsson’s digital services operations support systems.
The focus of the new jobs will be in the area of developing new cloud-based products for 5G technology.
The IDA, which supported the investment, said it demonstrated Ericsson’s continued commitment to Ireland.
“The next generation of technology developed at the Athlone facility will set the standard for the industry,” said Martin Shanahan, CEO of IDA.
“These jobs and associated investment will have a substantial impact on both the local and regional economy.”
According to Ericsson, more than 40% of the world’s mobile traffic passes through its networks, which together serve more than one billion subscribers.
The announcement was received by Tanaiste Leo Varadkar and the Minister of State responsible for Trade Promotion, Digital and Business Regulation, Robert Troy.
“It really is a vote of confidence for Athlone and Ireland as a whole that such an internationally renowned company has chosen to make this investment,” said Mr Varadkar.