August 27, 2018 / 8:19 AM / a year ago

Chinese firm close to buying Israel's ColorChip for $300 million - media

JERUSALEM (Reuters) - Israel’s ColorChip, a maker of communication components for telecom providers and data centres, is close to being bought by an unnamed Chinese company for as much as $300 million, Israeli media reported on Monday.

ColorChip, which was founded in 2001, was not immediately available for comment.

Newspapers said ColorChip has raised $112 million in private funding to date and that the firm has a workforce of about 250 people.

Israeli companies and technologies have attracted significant interest from China in recent years.

Reporting by Steven Scheer; Editing by Jeffrey Heller

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