Apple’s rumored purchase of Israeli flash memory firm Anobit has been finalized, according to Israeli news website Calcalist.

The price Apple paid for the company was not provided by the publication, however, the report is calling for a dollar amount between $400 million and $500 million. This would make Anobit Apple’s most expensive acquisition thus far. It would officially beat out NeXT, a company started by Apple co-founder Steve Jobs that was acquired for $404 million.

Israel’s prime minister has even taken notice of the acquisition by Apple.

“Welcome to Israel, Apple Inc. on your 1st acquisition here,” read a tweet from Israel Prime Minister Benjamin Netanyahu. “I’m certain that you’ll benefit from the fruit of the Israeli knowledge.”

It is unclear exactly what Netanyahu was referring to, but it seems as if the tweet was a response to the Anobit deal.

Anobit’s executive team, which consists of Chairman and CEO Ehud Weinstein, and President Ariel Maislos, reportedly informed employees that this deal with Apple was finalized. The company’s official campus is located in Herzliya, a major section of Israel known for the technology that has grown from it.

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9to5Mac reported that Anobit's executive squad has not been formally introduced to Apple employees. But if the Calcalist report is accurate, that should be happening sometime in the near future.

The company’s technology consists of what is known as MSP (Micro Signal Processing), which is comprised of proprietary signal processing algorithms combined with advanced error correction and innovative flash management schemes, resulting in a dramatic improvement in endurance, performance and system cost. MSP enables SLC (one-bit-per-cell) endurance and performance with MLC (two bits-per-cell) NAND, and MLD endurance and performance with TLC (three bits-per-cell) NAND, resulting in a significant reduction in cost per-bit.