Apple spokesman Steve Dowling confirmed the acquisition in a telephone interview with Bloomberg, but did not elaborate on the company's plans for Anobit. "Apple buys smaller technology companies from time to time and we generally do not discuss our purpose or plans," Dowling said.
Rumors of a possible deal had swirled in recent weeks. It's believed Apple made the purchase to secure flash memory parts for its iPad, iPhone and Mac lines. Anobit was already a supplier to Apple prior to the acquisition.
Reports suggested Apple paid somewhere between $400 million and $500 million for the company, though Apple did not disclose the price. If true, this would make it one of Apple's largest acquisitions ever, and may suggest a strategy shift when it comes to acquisitions.Back in December, the office of Israeli prime minister Benjamin Netanyahu wrote a tweet welcoming Apple to Israel. "Welcome to Israel, Apple Inc. on your 1st acquisition here. I'm certain that you'll benefit from the fruit of the Israeli knowledge," it tweeted. There had been speculation that Apple might acquire a flash memory company, with some speculating Fusion-IO (FIO) as a potential target. Fusion-IO's Chief Data Scientist is Steve Wozniak, an Apple co-founder. Apple may also build a research & development center in Israel, following in the footsteps of companies such as Microsoft (MSFT) and Intel (INTC). Apple could not be immediately reached for comment on this story. Apple shares were sliding Wednesday, off 0.5% to $421.03. Interested in more on Apple? See TheStreet Ratings' report card for this stock. Check out our new tech blog, Tech Trends. --Written by Chris Ciaccia in New York >To follow the writer on Twitter, go to http://twitter.com/commodity_bull. >To submit a news tip, send an email to: firstname.lastname@example.org
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV