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Apple Officially Purchases Israel's PrimeSense

The computing giant has big plans to implement PrimeSense for its next generation of TV's, buying the Israeli 3D sensing startup for $350 million

By: Omer Shachnai
Published: November 25th, 2013 in Business » World
Users enjoy PrimeSense sensing abilities while playing XBOX Kinect

The Israeli startup mania continues: as previous reports have indicated, Kinect sensor company PrimeSense has been officially sold to Apple for an astounding $350 Million.

The new purchase will help Apple in the development of the next generation TV’s.

Following one-and-half year-long negotiations, which included back and forth statements and denials and even a last minute thriller, Apple has finally confirmed last night that it will be acquiring Israeli 3D sensing startup PrimeSense. The company spokesman has confirmed the deal, but denied giving any details. The deal was signed last Thursday.

Primesense, which is based in Tel Aviv, has some 150 employees and was founded in 2005 by Aviad Maizels, Alexander Shpunt, Ophir Sharon, Tamir Berliner and Dima Rais. The company has previously developed the kinect sensor for Microsoft’s XBOX gaming console. PrimeSense has been paving the way in the area of sensory inputs for a wide range of industries and markets.

The startup’s investors include Canaan Partners, Silver Lake, Gemini Israel Funds and Genesis Partners. The acquisition will probably land them $70-80 million for their $15-20 million investment each. It is still not clear if the company’s employees will enjoy the exit. The purchase follows the extremely good year that the Israeli startup nation has been experiencing up to now with the purchases of Waze, Onavo, Soluto and more.

Moreover, PrimeSense is not Apple’s only major recent acquisition. Apple bought software navigation companies Embark, HopStop.com, Locationary and WiFiSLAM earlier this year. In addition, it bought Chomp to revamp the App Store and AuthenTec to build the Touch ID security system last year. Another Israeli-based company which Apple purchased in late 2011 was Anobit; it was sold for somewhere between $400 and $500 million.

Related articles: Apple, PrimeSense, Technology News, Israel News, Business News, TV, 3D, Kinect, Startup
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