Chinese Huawei reportedly acquires Israeli IT networking company Toga Networks for $150 million

Chinese technology giant Huawei has reportedly acquired Toga Networks, an Israel-based IT networking company, in a deal worth more than $100 million.

Venture Beat reported it on Wednesday following a report in Hebrew from Israeli business publication the Calcalist. That story cited figures from research firm Zirra that peg the deal at around $150 million, though this could rise if certain conditions are met.

Toga Networks was founded in 2009 and is a privately held company that provides advanced technology research and high level design for the IT and Telecom markets. The company is based in Hod Hasharon, Israel.

Read more: Venture Beat, Calcalist (Hebrew)