Report: Apple in talks to buy Israel's Anobit

AP News
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Posted: Dec 13, 2011 9:28 AM
Report: Apple in talks to buy Israel's Anobit

An Israeli daily is reporting that Apple Inc. is in advanced talks to buy Israeli flash memory technology-maker Anobit Technologies Ltd. for up to $500 million.

The Calcalist financial daily reported on Tuesday that the deal, if it goes through, would be one of Apple's largest acquisitions and its first in Israel.

Anobit had no immediate comment. Apple could not immediately be reached because of the 10-hour time difference between California and Israel.

Calcalist says Apple already incorporates an Anobit chip that improves flash drive performance in its iPhone, iPad and MacBook Air devices.

Anobit has raised more than $70 million from investors including Intel Capital.