January 26, 2016 / 6:24 AM / 2 years ago

Sony says to buy Israel's Altair Semiconductor for $212 million

TOKYO (Reuters) - Sony Corp 6758.T said it will buy Israeli chipmaker Altair Semiconductor for $212 million, stepping up its investment in chip technology after strong sales of camera sensors in the last few years helped turn around the business.

Pedestrians are reflected in a logo of Sony Corp outside its showroom in Tokyo, Japan, June 23, 2015. REUTERS/Yuya Shino

The Israel-based company, which has developed technology to allow small devices such as security alarms and electricity meters to connect to mobile networks, told Reuters last year that it was considering an initial public offering.

Sony said it expects to close the deal in early February.

Reporting by Ritsuko Ando; Editing by Miral Fahmy

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