Apple confirms its purchase of Israeli flash memory company

The Israeli flash memory maker has its tech already used in most of Apple's iOS devices and Mac laptops. Although the company would not reveal its purchase price, two shareholders say the final buyout was about $390 million. The company had been seeking more, and Israeli newspapers had been speculating for weeks that the price was high as $500 million.

By owning the company, Apple has a full supply of a key component of its iPhone and iPads and can customize the tech to better suit its devices.

Apple is the largest purchaser of NAND flash memory in the world, accounting for a full 23 percent of the planet's consumption in the Q3 2011.