Intel To Buy Mobileye

Intel To Buy Mobileye

Intel To Buy Mobileye

With those companies under its belt, MobilEye's sensor technology, and its own microprocessor expertise, Intel could be poised to offer a fully-integrated autonomous driving solution to carmakers.

Intel's auto-driving group will be headquartered in Israel and led by Amnon Shashua, Mobileye's co-founder, chairman and chief technology officer. The Israeli company now utilizes STM chips for the products it provides auto manufacturers with. "This transaction extends Intel's strategy to invest in data-intensive market opportunities that build on the company's strengths in computing and connectivity from the cloud, through the network, to the device", Intel noted in a statement announcing the deal.

The deal is the world's largest acquisition of a company that focuses only on the field of automated driving systems.

USA microchip maker Intel is about to be the new company behind the wheel at the driverless technology firm Mobileye.

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It is the biggest technology takeover in Israel's history and the largest purchase of a company exclusively focused on self-driving.

VentureBeat has reached out to both Intel and Mobileye for confirmation, and will update here with additional details when we hear back. It is an approach Intel has also used for virtual reality technology. It also strengthens Intel's position in the sector against rival chipmakers Nvidia and Qualcomm.

Intel CEO Brian Krzanich said of the deal, "This acquisition is a great step forward for our shareholders, the automotive industry, and consumers".

The chip-making giant Intel confirmed its intent on Monday to acquire the Jerusalem-based autonomous driving company Mobileye for a record $15 billion, the biggest ever exit in Israeli history.

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Mobileye has become a quintessential element of the global technology economy since going public several years ago.

The acquisition of Mobileye could propel Intel into the front ranks of automotive suppliers at a time when the company has been downplaying its core semiconductor business.

Over the last two years, Intel styled itself like many other chip supplier as a growing force in self-driving cars.

"The deal dramatically proves that the vision which we are leading is being realized", said Prime Minister Benjamin Netanyahu.

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