The European Commission’s probe into Ireland and the soft deal tax the country allegedly struck with Apple – which is about to enter its 23rd month – could take as long to complete as the end of this year, a leading economist has said.

EMC, one of the leading tech companies in Cork, announced quarterly results yesterday in line with expectations, while VMware — 80%-owned by EMC — spent over €1bn acquiring Nicira.

Quest Software, which makes tools to help companies manage computer systems, has accepted a sweetened $2.17bn (€1.73bn) $25.75-a-share bid from Insight Venture Partners and agreed to the addition of Vector Capital to the buyout group.

Apple profits almost doubled in the last quarter, reflecting robust demand for the iPhone in China, as well as purchases of a new version of the iPad tablet, allaying the concerns that fuelled a 12% two-week slump in the stock.