Apple buying flash memory firm Anobit for up to $500m?

Tech reportedly increases flash drive performance, speed and endurance.

Israel-based Anobit developed a chip enhances flash drive performance, speed and endurance and it's currently in use for Apple devices including the iPhone, iPad and MacBook Air, according to Calcalist.

The report says the purchase will cost Apple between $400-500 million. Not only would the acquisition be the first for the firm under Apple CEO, Tim Cook's leadership, but also the first for Apple in Israel.

It's plausible Apple has set its eyes on Anobit's MSP-powered MSP20xx embedded flash controllers for smartphones and tablets, which have the power to boost memory performance. In August, Anobit revealed it had moved 20 million of the controllers.

The firm usually concentrates on software buys such as Siri, which it was rumoured to have paid up to $200 million for back in April 2010. The last known hardware companies bought by Apple includes NeXT, Raycer Graphics, Intrinsity and P.A. Semi but all of those were founded by Steve Jobs.

Anobit employs approximately 200 people and has received $76 million in funding from investors including Battery Ventures, Pitango Venture Capital and Intel Capital, according to Calcalist.