Update 11/25: Apple has officially confirmed the acquisition of PrimeSense, but as it's the norm for these type of deals, the company declined to comment on how much it spent or its plans for the technology. Israeli media says the deal is valued at about $350 million.

Original story below.

According to a report from Israeli publication Calcalist, Apple has acquired Tel Aviv-based 3D sensor technology company PrimeSense for $345 million. A formal announcement is expected within the next two weeks. News of a potential Apple-PrimeSense deal first emerged from the same news outlet earlier this year, but according to the latest report, it got delayed due to legal issues. At that time, the deal was priced at $280 million.

According to AllthingsD, the deal is not yet complete, but close. Meanwhile, PrimeSense, in a statement made to TheNextWeb, referred to the news as a "re-cycled rumor". While on the other hand, Apple has declined to comment on its link with the fabless semiconductor company.

Best known as the company that provided its technology, chips and design for the original Microsoft Kinect device, PrimeSense's motion sensing technology – which interprets gestures and movements using cameras and sensors – could be extremely useful for a number of Apple products including the Apple TV and wearable devices. Last year, Apple acquired mobile security firm Authentec and integrated its technology in the iPhone 5s.

Founded in 2005 by Aviad Maizels, Alexander Shpunt, Ophir Sharon, Tamir Berliner and Dima Rais, PrimeSense has raised $30 million from venture capitalists and caters to industries like gaming, healthcare, robotics, and more. Its 3D sensor technology is powering more than 24 million devices around the world.