Calcalist, a Hebrew-language newspaper, has reported that Apple, Inc. closed on a deal for Anobit, a 200-employee Israeli company that makes flash memory technology. Although the final terms of the acquisition remain unknown, Calcalist places the deal in the $400 million to $500 million range.
The supposed goal of Apple's acquisition of Anobit is to increase the amount of memory in Apple's portable devices as well as to improve solid-state memory reliability. Apple is now expected to build a semiconductor development center in Haifa, Israel, the first strategic development facility beyond Apple's headquarters in Cupertino, Calif.
Anobit has about 100 pending and granted patents and had previously raised $80 million in invested capital, according to International Strategy & Investment (ISI) Group, Inc. analyst Brian Marshall.