Amazon.com Inc. (Nasdaq: AMZN) agreed to acquire Israeli semiconductor company Annapurna Labs, seeking to improve performance within its Amazon Web Services cloud unit.

Acquisition talks were reported earlier by Israeli newspaper Calcalist, which said the purchase price could be as much as $370 million. A deal has been reached, but hasn’t yet closed, said Mary Camarata, a spokeswoman at Amazon Web Services. She declined to comment on the terms.

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