California-based Apple Inc. is no stranger to buying other companies and has most recently purchased Israeli company “Anobit” reports Steve Dowling, Apple spokesman yesterday.
Anobit makes a controller part contained within iPhones and iPads that helps to optimize device flash memory abilities. Bloomberg is reporting that Apple paid about $390 million to acquire it after two weeks of negotiations.
While Apple did make confirmation of the sale they declined to go into detail on their strategy for the use of the company. Dowling says:
”Apple buys smaller technology companies from time to time and we generally do not discuss our purpose or plans,”
The arrangement does put Apple in control of a portion of the supply chain for an integral part in their extremely popular iOS devices. As the world’s largest consumer of flash memory, accounting for 23%, the purchase helps to secure the value of the memory it consumes.
It’s worth noting that this marks Apple’s first acquisition in Israel where organizations such as Microsoft, HP and Intel are already established.