Amazon has acquired Israeli chip designer Annapurna Labs

Amazon looks to be continuing its trend of acquiring company’s left and right this year, the latest such company being Annapurna Labs, an Israeli chip designer that the technology giant has reportedly acquired for around $350 million. While the reasoning behind this acquisition isn’t clear, many believe that Amazon may be looking to power its future electronics with its own hardware. 

Amazon.com Inc. is in advanced talks to buy secretive Israeli chip designer Annapurna Labs Ltd. for $350 million, according to two people familiar with the matter. The deal is expected to be completed soon, the people said, and the price could go as high as $375 million, depending on certain conditions. Calcalist, an Israeli financial newspaper, published a report Thursday on the talks between the companies. Based in Yoqneam, in Israel’s north, Annapurna Labs was founded in 2011 by Avigdor Willenz, founder of the chip-design company Galileo Technologies Ltd. Marvel Technology Group Ltd. bought Galileo for $2.7 billion in 2000.