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

TOKYO - Sony Corp 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.

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. -Reuters