The six year investment will see two centres established at Trinity College Dublin, and one each in UCD, NUI Galway and UL with 14 institutions involved.
€155 million of the funding will come from the Department of Jobs, while industry partners such as Google, Microsoft, Tullow Oil, and FBD will stump up €90 million in cash and in-kind payments.
That funding will support 700 new and existing research roles.
Jobs Minister will make the announcement of the centres later today.
The move will bring to 12 the number of centres in Ireland run by the Science Foundation Ireland after a €300 million investment last year.
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