Anobit says deal with Apple finalized - Israel Business, Ynetnews

   Israel News

Israel News
World News
Israel Opinion
Israel Business
Israel Culture
Israel Travel
Good News

Apple. First development center outside US Photo: Niv Lilien
Apple. First development center outside US Photo: Niv Lilien

Anobit says deal with Apple finalized

Startup company informs its employees that they are now working for American technology giant

Meir Orbach, Calcalist
Published: 12.20.11, 15:04 / Israel Business

Anobit's executive management gathered the startup cpmpany's employees at a Herzliya hotel on Tuesday morning to inform them that they are now working for Apple.


The global technology leviathan is performing its first acquisition in Israel and will open its first overseas development center in the Holy Land.


High-Tech History
Apple to open R&D center in Israel  / Assaf Gilad, Calcalist
Technology giant set to inaugurate first development center outside US at Haifa's Scientific Industries Center, due to its proximity to Technion
Full story
The talks between Anobit and Apple over an estimated $400-$500 million deal were revealed by Calcalist last week.


Anobit develops a chip which enhances the performance of flash memories using unique data signal processing (DSP) technology.


The chip is already incorporated into Apple's flagship products such as the iPhone, iPad and MacBook Air. The chip may as much as double the memory volume in the new iPads and MacBooks.


Apple's designs for Anobit, which currently has 200 employees, are still unknown. Estimates are that Apple will hold on to the Israeli employees and possibly even open a local R&D center that will recruit more employees.


Benefiting from the deal with Apple are founders Professor Ehud Weinstein, Ariel Maislos and Ofir Shalvi.


The company's investors, whose investments in the company over the past four years amount to $76 million, will also cut a coupon off the deal – Israeli fund Pitango, American Battery Ventures and Intel's and Micron Technologies' VC funds.


Click here to read this story in Hebrew



commentcomment   PrintPrint  Send to friendSend to friend   
Tag with Bookmark to

5 Talkbacks for this article    See all talkbacks
Please wait for the talkbacks to load


RSS RSS | About | Contact Us | Privacy Policy | Terms of use | Advertise with us | Site Map

Site developed by  YIT Advanced Technology Solutions