Sony Corp. has agreed to buy Israel's Altair Semiconductor Ltd. for $212 million, acquiring technology to power the next generation of smart appliances as the firm looks for growth beyond chips for smartphone cameras.
Altair, with modem chips for fourth-generation cellular technology, will help the company make component devices featuring both sensing and communication capabilities, Sony said in a statement Tuesday. Altair, based in Hod Hasharon, northeast of Tel Aviv, makes chipsets that can connect security systems, power meters and cars to the Web with the deal due to close next month.
Chief Executive Officer Kazuo Hirai is moving the Tokyo-based company away from consumer electronics to focus on growth in image sensors, video games and movies. It agreed to buy Toshiba Corp.'s image sensor operations last year to build up its chip business with growth in its devices unit contributing to the company's return to profit.