Final: Apple Buys Israeli PrimeSense For $345 Million

PrimeSense Aviad Maizels, PrimeSense President (Left), and CEO Inon Bracha

PrimeSense Aviad Maizels, PrimeSense President (Left), and CEO Inon Bracha

After months of rumors circulated that Apple Inc. (Nasdaq: AAPL)  had bought Israeli  fabless 3D chipmaker PrimeSense  the deal finally closed On Friday at a company value of $300-350 million. It was the Israeli paper Calcalist that said the company had several suitors at the time including Apple, Samsung and Sony.

PrimeSense designs and manufactures 3D chipsets for machine vision; their technology is currently incorporated by Microsoft Corporation (Nasdaq: MSFT)  into its Kinect motion detecting products, amounting to almost $200 million from Xbox 360 sales . The company has to date raised a lot of money – over $80 million – including $50 million invested by private equity firm Silver Lake Partners in early 2011 for 20% stake. Other Investors from leading venture capital firms  including Canaan Partners, Gemini Israel and Genesis Partners .

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Apple has bought another chipmaker in Israel last year, Anobit and also opened its own R&D labs in Israel as well in 2012.

PrimeSense, founded in 2005 by president Aviad Maizels, CTO Alexander Shpunt, Dima Rais, Ophir Sharon, and Tamir Berliner.

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