EMC Corp, the US-based data storage systems firm which employs almost 1,500 people in Cork, reported a 47 per cent increase in storage revenue and a 55 per cent rise in net income for the third quarter yesterday.

The accelerated growth was achieved by strong performance across all the company's main product areas, including a 61 per cent year-to-year growth in enterprise storage software revenue. The firm will invest $20 million in its manufacturing and services facility in Ovens, Cork.