Sony is reportedly looking to sell its chip development operations in Israel, with the deal estimated at about US$300 million.

The Japanese technology company has engaged investment banks to help find a buyer.

The center, located in Hod Hasharon, develops connectivity and sensor chips for Internet of Things (IoT), focusing on low-power cellular networks, AI-integrated processors, and system-on-chip solutions.

It was established after Sony acquired Israeli chipmaker Altair for US$212 million in 2016.

Recently, the center cut jobs and issued pre-layoff hearing notices, reducing its workforce from about 400 people.

Led by Nohik Semel, the center earns roughly US$80 million annually, but Sony has not disclosed further details about the sale.

Recent Sony developments