Sony To Buy Israel's Altair Semiconductor For $212 Mln

(RTTNews) - Sony Corp. (SON.L, SNE) said that it agreed to buy an Israel-based company Altair Semiconductor for $212 million or approximately 25 billion yen.

Sony noted that it expects to complete the acquisition in early February, 2016. No material impact is anticipated on Sony's consolidated financial results for the fiscal year ending March 31, 2016 as a result of this acquisition.

Altair, an Israel-based company, owns modem chip technology and related software for LTE (Long Term Evolution), a 4G cellular standard for mobile devices. Altair develops and sells products focused on LTE technology, and its modem chips stand out for their low power consumption, high performance and competitive cost.