Apple is reportedly going to use part of its enormous pile of cash to buy an Israeli fabless semiconductor company that specializes in flash storage solutions. Calcalist
reports – in Hebrew – that the world’s most valuable company is in talks to buy Herzliya Pituach, Israel-based
Anobit for $400 million to $500 million.
If the report checks out, this would mark Apple’s first acquisition in Israel (and the first with
Tim Cookat the helm as CEO), and also a rare occasion because the consumer electronics giant doesn’t usually buy non-software companies. The only hardware companies Apple is known to have acquired in the past two decades were Steve Jobs-founded NeXT, Raycer Graphics,
Intrinsity and
P.A. Semi.
Anobit provides flash storage solutions for
enterprise and
mobile markets, based on its proprietary
MSP (which stands for ‘Memory Signal Processing’) technology. Its solutions are designed to improve the speed, endurance and performance of flash storage systems while driving down the cost.
Read more about it
here.