Mobileye Goes Public Friday

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Mobileye 5 Series

Mobileye, the company that makes aftermarket and OEM driver safety equipment, is going public tomorrow in the largest US IPO ever by an Israeli company, said Bloomberg.

The company is valued at almost $5 billion.  It will sell shares at prices from $21 to $23 and seeks to raise $638 million.

Mobileye was founded by a Hebrew University professor Amnon Shashua, and Ziv Aviram in 1999.  It now calls itself the leader in camera-based driver assistance systems, which include automatic braking and collision avoidance.

About 3.3 million cars on the road use Mobileye’s system-on-a-chip camera technology including cars from BMW, Nissan, General Motors, Honda, Volvo and Ford.  First launched in 2007, the Mobileye technology will be in 160 car models from 18 car makers by the end of the year. That should increase by 2016 to 237 car models from a total of 20 car makers.

The company turned a profit in 2013 of almost $20 million on revenue of $81 million.

Of course, in the aftermarket the company offers the Mobileye 560 device that warns a driver if he’s approaching the car ahead to fast.  It uses a smart camera and algorithms to detect an imminent crash and other hazards. It also offers lane departure warning and other features at $849.

Source: Wall Street DailyBloomberg, Investor’s Business Daily,

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