Apple has bought Israeli flash-memory co. Anobit

Jan 11, 2012

(AP) -- Apple confirmed Wednesday that it has bought Anobit Technologies, an Israeli maker of flash memory technology already used in many of Apple's gadgets.

Apple Inc. spokesman Steve Dowling said that Apple buys smaller tech companies from time to time, but generally does not give a reason why or say what it plans to do with them. The company did not say how much it paid for Anobit.

Flash memory is used in digital devices such as cameras and music players. It's lighter and more durable than memory used in , though it stores less information. Apple's iPhone, and Air, which don't have hard drives, rely on flash memory.

Owning the manufacturer guards Apple against supply constraints in the industry and allows the company to customize the technology so it works more smoothly with the iPhone and other devices.

Israeli publication Calcalist reported in December that Apple was in talks to buy Anobit. Apple made the acquisition to secure intellectual property and for a competitive edge in flash products and pricing, said Jefferies analyst Peter Misek in a research note last month.

Apple doesn't often announce acquisitions. It bought company Quattro Wireless in 2010, among other recent deals.

Anobit could not be reached for comment after business hours in Jerusalem Wednesday.

Bloomberg reported earlier that Apple had confirmed the deal.

Shares of Apple, which is based in Cupertino, Calif., fell $1.83 to $421.41 in late afternoon trading.

Explore further: Ticketfly buying WillCall for on-premise data

1 /5 (2 votes)
add to favorites email to friend print save as pdf

Related Stories

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.

Is Apple gearing up for the iPhone nano?

Jan 02, 2009

Apple Inc. may be gearing up to introduce cheaper iPhone and MacBook models in 2009, possibly including a device dubbed the iPhone nano, an analyst said Wednesday.

Recommended for you

Ticketfly buying WillCall for on-premise data

13 hours ago

Ticketfly Inc., a San Francisco-based technology company among several posing a challenge to Ticketmaster, is acquiring WillCall Inc., a crosstown rival that turns your smartphone into a mobile wallet at live events.

HP revenue inches up after years of decline

Aug 20, 2014

Hewlett-Packard on Wednesday reported that its quarterly revenue rose for the first time in three years, nudged by improved computer sales everywhere except Russia and China.

Restaurants experimenting with pay-in-advance tickets

Aug 20, 2014

With restaurant patrons increasingly jumping on the Internet to make reservations, some high-end eateries here and across the country are adding a new tech wrinkle: having their clientele pay for their meal in advance using ...

Chip maker Infineon to buy California firm for $3B (Update)

Aug 20, 2014

German chip maker Infineon Technologies AG says it has agreed to pay $3 billion in cash for California-based semiconductor firm International Rectifier, which produces power-management components used in everything from cars ...

User comments : 0