Apple poised to buy Flash Storage company

Tech Cruch has reported Apple is considering purchasing an Israel-based company called Anobit for $400-$500 million.

Anobit produce Flash based storage which Apple already used in its iDevices and the MacBook Air.

A multi million dollar acquisition would make Anobit one of Apple's largest acquisitions ever. Prior to that, you have to look back to when Apple paid $404 million to acquire NeXT Inc, which in turn brought back Steve Jobs to the company he founded.

Update: The initial reports suggested that Anobit had production facilities, but it's since been clarified that the company is a fabless designer in the same vein as P.A. Semi and Intrinsity.