Apple takes a bite out of Israeli tech company

By Jennifer Lipman, January 12, 2012

Technology giant Apple has confirmed the purchase of an Israeli company after several weeks of speculation.

Anboit Ltd, which makes a flash memory component that can be used in iPhone’s and iPad’s, was bought by Apple for more than £250 million.

The sale, the first time Apple has acquired an Israeli company, was confirmed by Apple spokesman Steve Dowling.
Israel’s hi-tech industry is considered one of the most advanced of anywhere in the world. Apple is not the first computer company to take advantage of Israeli expertise; Microsoft, Intel and Hewlett Packard all operate there.

The news was welcomed by Prime Minister Benjamin Netanyahu, who posted a congratulatory message on Twitter even before the sale was officially announced.

“I'm certain that you'll benefit from the fruit of the Israeli knowledge,” he said.

Last updated: 10:52am, January 12 2012