Apple takes a bite out of Israeli tech company

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