Apple To Buy an Israeli Tech Company for $500 Million

Techcrunch:

Apple is reportedly going to use part of its enormous pile of cash to buy an Israeli fabless semiconductor company that specializes in flash storage solutions. Calcalist reports […] that the world’s most valuable company is in talks to buy Herzliya Pituach, Israel-based Anobit for $400 million to $500 million.

For some perspective and fun, here’s Minister Nicholas Sahnaoui on August 26, the day he announced 3G in Lebanon:

What we’re doing in the ministry […] will unleash huge amounts of economic and human power, which is currently latent, or is being exported. […] It’s going to make Lebanon become one of the most advanced countries in the field of Information Technology and Multimedia Creativity.

Good thing he decided not to exaggerate..