Intel Acquires Mobileye
The American chip maker Intel is to take over the Israeli start-up Mobileye, which already cooperates with numerous OEMs. Mobileye provides key technologies for modern assistance systems and autonomous driving including its camera solutions and control systems. The Israeli company’s other partners include BMW, Daimler, Volkswagen and the automotive mapping service HERE, where Intel also recently bought a stake. Subject to regulatory approvals, the purchase price will be approximately $15.3 billion. The start-up with about 600 employees will remain based in Jerusalem for the time being.
By making this acquisition, Intel is expected to accelerate innovation in autonomous driving and claim a leading position in this fast-growing market: Brian Krzanich, Intel CEO, said that this acquisition is a great step forward for its shareholders, the automotive industry and consumers. Intel provides critical foundational technologies for autonomous driving and making real-time driving decisions. Mobileye brings the industry’s best automotive-grade computer vision and strong momentum with automakers and suppliers. This acquisition allows a one-stop solution for cameras, control systems with chips as well as processing and memory capacity in data centres to be provided. Ziv Aviram, Mobileye’s co-founder, president and CEO, added that growth towards autonomous driving is expected to continue. The company would provide consumers with safer, more flexible and less costly options and the clients with new business models.