Software firm to create 120 jobs

Wed, Sep 23, 2009, 01:00

Security software producer McAfee has confirmed plans to create 120 new jobs in Co Cork.

The company said this afternoon it is to establish a sales operation for its Europe, Middle East and Africa (EMEA) division in Cork, where it already has a base.

IDA Ireland is supporting the new project.

The company employs 170 at its existing Cork operation, which was opened in 2004. The existing facility houses its software operations and international headquarters.

The US company moved businesses to Cork from Amsterdam earlier in the decade. A key attraction was the Republic¿s low tax on corporate profits, which stands at 12.5 per cent, compared with the Netherlands¿ 34 per cent.

Tánaiste and Minister for Enterprise, Trade and Employment Mary Coughlan announced details of the project at a press conference in Cork this afternoon.

"This investment is highly significant for Ireland, and is a positive endorsement from an industry leader, further demonstrating the attractiveness of the region for companies seeking a location from which to develop and grow their European business," said Ms Coughlan.

"A move on this scale sets the standard for other organisations and will help to demonstrate how Ireland can contribute to global business,¿ she added.

McAfee is based in California and is a world leader in the business of developing and selling software that protects computers from viruses and hackers. Its clients include large and small organisations, as well as personal users.

According to its most recent financial report, revenues for the second quarter of the year were up 18 per cent at $468.7 million, while net income grew 13 per cent to $94.7 million.