Apple reportedly closes Anobit purchase for $400M to $500M

According to Hebrew-language newspaper Calcalist, Apple finalized its acquisition of flash memory maker Anobit, which is said to have been recently informed their employees about the finalized deal.  The final price remains unknown, but could be in between $400 million and $500 million.

The reported goal of Apple's acquisition of Anobit is to increase the amount of memory in its portable devices, like the iPhone, iPad and MacBook Air, as well as to improve the reliability of solid-state memory. Apple is now expected to build a development center in Haifa, where Intel, Google, Microsoft, Yahoo and Qualcomm also have facilities. The Anobit purchase is believed to be the first acquisition for Apple with Tim Cook as CEO.

Anobit is a 200-employee Israeli fabless semiconductor company that specializes in flash storage. Anobit has about 100 pending and granted patents, and was first founded in 2006. Apple is said to be particularly interested in the company's proprietary memory signal processing technology and planning to build a semiconductor development center in Israel.