Apple purchased its first Israel-based company, Anobit Ltd., a flash storage solutions provider, for about $390 million. 

The acquisition, at a price lower than the $500 million originally reported, comes nearly three weeks after an Israeli financial newspaper announced that the purchase was imminent. The deal was signed Jan. 6, Bloomberg reported. 

Apple had announced in December that it will open a development center in Israel focusing on semiconductors, reportedly the first to be opened outside of its California headquarters.

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