Apple to move iTunes business to Cork on Feb 5

Apple is to move its international iTunes business from Luxembourg to Cork on Feb 5, as revealed in an article from AppleInsider.

Apple’s international iTunes business serves more than 100 countries around the world and consists of the iTunes Store, Apple Music, the App Store and the iBooks Store.

The transfer is estimated to be worth $9 billion in assets and comes after the European Union’s years-long investigation into Ireland’s alleged sweetheart tax deals with the technology giant determined that the deals were in breach of regional regulations.

Apple currently employs 5,000 people in Cork and was given the all-clear last year to build a new data centre in the area, which will add a further 1,100 jobs.