Apple’s Purchase Price For Anobit Said to be $390M

Apple’s acquisition of Israeli firm Anobit Technologies, which produces controllers that optimize flash memory capabilities, was said to be US$390 million, according to a pair of Anobit shareholders who spoke to Bloomberg. That price was below what Anobit sought, which was said to be as much as $500 million, according to speculation in an Israeli newspaper last month.

Apple closed the deal on Jan. 6, and spokesman Steve Dowling officially confirmed the purchase on Jan. 10, saying only: “Apple buys smaller technology companies from time to time and we generally do not discuss our purpose or plans.” An Anobit executive contacted by Bloomberg did not immediately return the call.

The buy is typical for Apple, which makes small, strategic acquisitions while continuing to stockpile a cash hoard that is currently more than $80 billion. While speculation has swirled in recent years that the company could use its financial muscle to acquire a much larger prize like Sony or Nintendo, such a move would be a complete reversal of the philosophy established by ex-CEO Steve Jobs.