EMC will splash out $3 billion this year to expand its data analysis empire.
With ‘big data’ big business, EMC’s Chief Operating Officer Pat Gelsinger says that the firm is looking to spend more cash on diversifying beyond the storage market.
Another spending spree, following a similar outlay last year, will see EMC add businesses to its portfolio to focus on tools and services for data analysis.
Last year it spent $3.2 billion on acquisitions including Isilon Systems and Greenplum.
Those acquisitions were made with the aim of increasing EMC’s ability to deal with the massive amounts of data that are flowing through the web and elsewhere.
Gelsinger, speaking in a recent interview, was adamant that EMC has the financial muscle to keep up with its big data competitors, with $5.69 billion in cash at the end of the first quarter according to Bloomberg, while first quarter sales rose 18 percent to $4.61 billion.
Gelsinger put himself forward to replace EMC boss Joseph Tucci in his role as CEO, saying his “hat’s in the ring” for the job.
EMC’s face turned a shade of pink recently as its security arm RSA’s SecureID database was subject to a security breach, expected to cost banks around $100 million to dish out new, secure network logins.