Mobileye is Purchased For $15 Billion

share on:
Mobileye

Chip maker Intel has agreed to buy Mobileye for $15.3 billion.

This is the largest buyout ever of an Israeli company, said Reuters. It’s also the biggest purchase of a company exclusively dedicated to autonomous driving, said the news outlet.

The combination of Mobileye and Intel “is expected to accelerate innovation for the automotive industry and position Intel as a leading technology provider in the fast-growing market for highly and fully autonomous vehicles,” said an Intel statement.

Intel and Mobileye are already collaborating on developing BMW’s iNext self-driving system, which aims to power self driving cars by 2021.

Mobileye sells to the aftermarket a forward collision warning add-on system that provides headway monitoring/following time, lane departure warning and other alerts.

Mobileye was founded in 1999.  It received a $130 million investment from Goldman Sachs in 2007 and joined the NY Stock Exchange in 2014.  It has a market value of $10.6 billion.

You can read more here and here.

Source: Intel, Reuters

Tags:
share on: