BREAKING NEWS

Apple confirms Anobit acquisition

By NADAV NEUMAN/GLOBES

JANUARY 11, 2012 14:55

Apple Inc. Tuesday confirmed that it has acquired flash memory storage developer Anobit Ltd. The technologies and products developed by the Israeli company are already integrated into Apple's iPhones and iPads.

Apple spokesman Steve Dowling said that the acquisition had taken place but declined to give further details. He did not disclose the size of the deal but reports last month suggested that Anobit had been acquired for $350-400 million.

The deal comes as Apple plans setting up a development center in Israel focusing on semiconductors. However, sources have stressed that the establishment of such a center was not dependent on the acquisition of Anobit.

Buying Anobit has been an exceptional step for Apple, the world's largest computer company. This is Apple's first acquisition in Israel. The California based company has a market cap of $355 billion and analysts predict revenue of $140 billion in 2012.

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