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amazon logoUpdate, 10:50 a.m. PT: An Amazon spokesperson confirmed that the company has agreed to acquire Annapurna. It did not disclose the acquisition price.  

Original story:

The Wall Street Journal is reporting this morning that is in talks to buy Israel-based chip designer Annapurna Labs Ltd. for $350 million, a potentially bold move by the online retailer to develop the semiconductors that go into its devices.

The Journal notes that the deal is expected to close soon, and could fetch a price tag of as much as $375 million. Annapurna is led by Avigdor Willenz, who previously founded Galileo Technologies. That chip maker was sold to Marvel Technology Group for $2.7 billion in 2000, according to the Journal.

Three years ago, Amazon was rumored to be in the market to buy the mobile chip unit of Texas Instruments. The Israeli newspaper Calcalist reported on those talks three years ago, and it was the first to report on the talks between Amazon and Annapurna.

The Journal reports that Annapurna’s technology, which has yet to be unveiled, could be used in’s expanding network of data centers.

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