Apple acquires Israel's flash storage firm Anobit for around $500 mn
12 Jan 2012
Apple today said that it had acquired Israel's flash storage technology company Anobit, its first acquisition of an Israeli company.
Israel's Hebrew-language financial daily, the Calcalist had last month reported that the potential deal would be for around $500 million and would be one of the largest acquisitions by the Cupertino,California-based company.
Although Apple did not put out a press release, Steve Dowling, a spokesman for Apple, today confirmed the acquisition to Bloomberg.
Based in Herzliya, known as the Silicon Valley of Israel, and founded in 2006 by its current CEO Ehud Weinstein and president Ariel Maislos, Anobit provides flash storage solutions for enterprise and mobile markets, based on its proprietary Memory Signal Processing technology.
The company holds or has applied for more than 60 patents which would be applicable to future technologies.
Its solutions are designed to improve the speed, endurance and performance of flash systems while driving down the cost. Anobit's technology is comprised of signal processing algorithms that compensate for physical limitations of flash memory chips.
