The U.S. tech megapower Intel has signed a deal to purchase the Israeli startup Habana Labs, a Caesarea-based chip maker, for $2 billion.
It will be Intel’s second biggest buy in the country, after it obtained the auto-tech Mobileye for over $15 billion in 2017. The American firm is the largest employer in Israel’s private sector.
Habana Labs, founded in 2016 by David Dahan and Ran Halutz, uses artificial intelligence to improve the processing performance and power consumption of chips while lowering production costs.
Although Intel becomes the new owner, the Israeli startup will continue to operate independently and keep its local offices open, according to a statement from Intel.
Habana Labs currently employs 150 people worldwide, in Tel Aviv, Caesarea, San Jose, Beijing, and Gdansk.