Home MMBIZ News Apple Acquires Israel’s Primesense In A $350m Deal

Apple Acquires Israel’s Primesense In A $350m Deal

Apple Inc agreed to buy Israel-based PrimeSense Ltd, a developer of chips that enable three-dimensional machine vision, for about $350 million, Bloomberg reported citing a source.

PrimeSense’s sensing technology, which gives digital devices the ability to observe a scene in three dimensions, was used to help power Microsoft’s Xbox Kinect.

Apple’s interest in PrimeSense was first reported in July by the Israel-based Calacist news website.

“Apple buys smaller technology companies from time to time, and we generally do not discuss our purpose or plans,” a company spokeswoman Kristin Huguet told Reuters via email.

The PrimeSense deal makes it Apple’s second purchase of an Israeli company. It bought flash storage chip maker Anobit in January 2012.

PrimeSense’s investors include Canaan Partners, Silver Lake, Gemini Israel Funds and Genesis Partners, Bloomberg reported.

- Advertisment -

Must Read

TrueMoney Myanmar provideျ health insurance coverage for its agents

TrueMoney Myanmar has provided a total value of 3.2 Billion MMK health insurance coverage to their long-serviced agents and their territory distributors and introduced...