Apple buys Israeli start-up for $400 mn: reports

Dec 21, 2011
US giant Apple has finalised its first Israeli acquisition, agreeing to buy flash memory maker Anobit for about $400 million (307 million euros), local financial media reported on Wednesday.

US giant Apple has finalised its first Israeli acquisition, agreeing to buy flash memory maker Anobit for about $400 million (307 million euros), local financial media reported on Wednesday.

"The deal was closed on Friday and yesterday the company's staff were notified," business daily TheMarker reported.

"Anobit has developed flash controllers for devices which are reportedly already embedded in Apple's and iPhones," Globes daily added.

Reports on the value of the deal ranged from $300-$400 million, according to TheMarker, to $400-$500 million as reported by the Calcalist daily.

Israeli Prime Minister Benjamin Netanyahu tweeted a welcome message on Tuesday.

"Welcome to Israel, Apple Inc. on your 1st acquisition here," he wrote. "I'm certain that you'll benefit from the fruit of the Israeli knowledge."

Anobit, founded in June 2006, has 200 employees. Company officials could not be reached for comment on Wednesday.

Globes said that Apple was also about to set up a processor development centre in Israel but it said that the two deals were unrelated.

Calcalist said that Apple vice-president Ed Frank had recently visited Israel to discuss that project, to be located in the northern port city of Haifa.

Explore further: Uber investigating if exec broke 'God' app rules

add to favorites email to friend print save as pdf

Related Stories

Computer Associates buys XOsoft

Jul 11, 2006

Software giant Computer Associates will buy XOsoft, a developer of infrastructure software and application recovery solutions, it was reported Tuesday.

Intel acquires Israeli mapping company Telmap

Oct 03, 2011

Intel, the world's largest chipmaker, is in the process of acquiring Israeli mobile mapping firm Telmap, the two companies confirmed on Monday, in a deal reportedly worth about $300 million.

Google to open R&D center in Israel

Feb 28, 2006

Internet search giant Google will open a research-and-development center in the northern Israeli city of Haifa -- its first R&D center in the Middle East, the company announced in a statement Tuesday.

Israel urges Apple to remove pro-Palestinian app

Jun 21, 2011

(AP) -- The Israeli government on Tuesday appealed to Apple Inc. to remove an application called "ThirdIntifada" from its App Store, saying the program glorifies violence against the Jewish state.

Recommended for you

Square's point-of-sale service goes global

2 hours ago

Financial services startup Square is taking aim at cash registers across the globe, making its point-of-sale software available internationally in English, Spanish, French and Japanese.

Apple, Xiaomi trade smartphone barbs in China

12 hours ago

Top executives from US technology giant Apple and Chinese smartphone upstart Xiaomi traded light-hearted barbs on Thursday at a Chinese Internet conference, acknowledging the fierce competition between the ...

Uber investigating if exec broke 'God' app rules

23 hours ago

Uber Technologies confirmed Wednesday that it is investigating whether one of its general managers violated the popular car-booking service's privacy policies by snooping on a reporter's ride.

Showdown looms between US gov't, air bag maker

Nov 19, 2014

A showdown is looming between U.S. safety regulators and a Japanese company that makes air bags linked to multiple deaths and injuries. Car companies and the driving public are caught in the middle.

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.