Sony is acquiring Altair Semiconductor for $200 million, according to numerous reports. The reported deal says the Japanese electronics giant hopes to take a leading role in the Internet of Things (IoT) sector by buying up the Israeli provider of single-mode 4G LTE solutions.

Altair has been partnering with Sony for many years as a chip supplier and the buyout seems to be the next logical step.

Altair was founded in 2005 and is based in Hod Hasharon. The Israeli office will likely become the Japanese multinational’s R&D center.

Headquartered in Israel, Altair Semiconductor has six worldwide offices, including four in Asia: China, Taiwan, Japan, and India.

Altair has commercially deployed on the world’s most advanced LTE networks in the US, Japan, China, Europe, Africa and Latin America.