Technology titan Apple (NASDAQ:AAPL) is reportedly in advanced discussions about scooping up Israeli flash storage technology maker Anobit for as much as $500 million.
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According to Israeli daily business paper the Calcalist, the Cupertino, Calif.-based company likely wants to acquire Anobit to increase and enhance the memory volume and performance of its devices.
A takeover of Anobit would likely value the company at $400 million to $500 million and mark Apple’s first acquisition of an Israeli company, the Calcalist said. Anobit is also reportedly in talks over a large round of financing with an unspecified Asian company that is a leading maker of flash memory.
Shares of Apple were recently trading at $395.35, up 0.88% on the day. The stock has rallied just over 21% so far this year.
The report comes as new data from the NPD Group show Apple’s iOS controls about 29% of the U.S. smartphone market through October 2011, compared with 53% for Google’s (NASDAQ:GOOG) Android. Research in Motion’s (NASDAQ:RIMM) operating system shrank to just 11%.