Apple acquires 3D sensing company PrimeSense for $345 mn: report

Apple Inc has acquired PrimeSense Labs, an Israeli 3D sensing company, for $345 million, Israeli business daily business Calcalist  yesterday reported without citing sources.

The newspaper, which had in July reported that Apple was in "advanced talks" to buy PrimeSense for around $280 million (See: Apple in talks to buy Israel's 3D-sensor company PrimeSense), yesterday said that the concluded deal is expected to be announced in the next two weeks.

This would be the second acquisition of an Israeli company by Apple after it purchased flash-storage maker Anobit Technologies in 2012 in a $400-million deal, to acquire its  chips that speeds up flash drive performance without needing more RAM, that were already being used by Apple in its iPhone, iPad and the MacBook Air. (See: Apple acquires Israel's flash storage firm Anobit for around $500 mn).

Founded in 2005 by Aviad Maizels, Alexander Shpunt, Ophir Sharon, Tamir Berliner and Dima Rais, PrimeSense is a fabless semiconductor company whose patented technologies have allowed it to become one of the leading B2B providers of low-cost, high-performance 3D sensing and machine vision technologies.

Its 3D sensing technology gives digital devices the ability to observe a scene in three dimensions. It translates these observations into a synchronized image stream just like humans do. It then takes those synchronized images and translates them into information.

PrimeSense technology is used in a wide range of industries and markets, including in the development Microsoft's Kinect sensor for Xbox 360 games, to create 3D models of interior spaces by Matterport, Qualcomm's Vuforia 3D immersive gaming platform.

The Tel-Aviv-based company's 3D-scanning technology is used in more than 20 million devices worldwide, including sensors that can be embedded in TV's, smartphones and tablets.

PrimeSense has raised $85 million from Israeli and US venture capital funds such as Canaan Partners Global, Gemini Israel and Genesis Partners, according to Calcalist.