Apple Paid $390 Million For Israel’s Anobit

Despite the fact that competitors are putting all their best in coming up with a great competitor for iPhone, iPad and MacBook Air, Apple does not back down and does not waste time. The company has recently paid $390 million for Israel’s Anobit, a flash memory drive manufacturer.

Although companies involved in the deal have declined to comment on the price, the transaction has been revealed by the media since December. Back then, Israeli newspaper Calcalist wrote that Apple and Anobit were negotiating the deal.

In fact, on December 20, Israel’s prime minister’s office welcomed Apple to the country with a message posted on Twitter. “Welcome to Israel, Apple Inc. on your 1st acquisition here. I’m certain that you’ll benefit from the fruit of the Israeli knowledge” the post said.

With the deal already known in the media, Apple did not came forward with a confirmation until January 10. However, as stated by two Anobit shareholders it seems that Apple has signed the agreement on January 6.  As stated by Calcalist, the initial price was rumored to be $500 million, but Apple managed to buy the Israeli manufacturer for only $390 million.

Steve Dowling, spokesman for Cupertino, California-based Apple, said that the company “buys smaller technology companies from time to time and we generally do not discuss our purpose or plans”.

Buying Anobit is, on top of everything, an important step for Apple as it has secured an essential component for its iPhone and iPad. Anobit is a manufacturer that specializes in making high-performance controllers integrated in products such as iPhone and iPad to maximize memory capabilities.

Bloomberg writes that although Apple isn’t making “multi-billion-dollar acquisitions like rivals such as Hewlett Packard, Microsoft or Google”, it is however looking for “mall acquisitions of privately-held companies that can bring in new employees or technology to be integrated” into its products.

Koby Simana, head of the Israel Venture Capital Research Center in Tel Aviv, told Bloomberg: “The acquisition is further proof that Israel’s innovation overcomes boundaries and that the semiconductors industry is an innovative and leading field in Israel”. He expects 2012 to be a good year for mergers and acquisitions in the industry because these are “a central cash flow channel for technology investors”.

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