Intel is closing a deal to buy the Israeli startup Granulate for some $650 million.
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According to a report in Haaretz on Wednesday, a source familiar with the deal said it’s not yet final, but as much as $100 million is being set aside for severance packages and to retain 70 workers.
Founded in 2018 by Assaf Ezra and Tal Sayag, Granulate works to improve the performance of cloud servers. The system optimizes execution without the need for programmers, in addition to reducing computational power and costs.
Haaretz also reported that Intel plans to open a new R&D center in southern Israel. At present, the company employs 14,000 in Israel.