Apple is in talks to purchase Israeli company Anobit for $400-$500 million, according to a new report. Citing a report from Hebrew-based Calcalist, TechCrunch reports that should the deal go through, it would be Apple’s first acquisition in Israel and the first under new CEO Time Cook. Anobit is a fabless semiconductor company that specializes in flash storage solutions, which are designed to improve speed, endurance, and performance of flash storage systems while driving down cost. According to the Calcalist report, Apple relies on Anobit’s solutions in the iPhone, iPad, and MacBook Air, among other devices.