Intel completes Mobileye acquisition
Intel Corporation and Mobileye N.V. (NYSE: MBLY) have just announced the completion of Intel’s tender offer for outstanding ordinary shares of Mobileye, a global leader in the development specialist in analysis, localization and mapping for advanced driver assistance systems and autonomous driving. The acquisition is expected to accelerate innovation for the automotive industry and positions Intel as a leading technology provider in the fast-growing market for highly and fully autonomous vehicles.
The combination of Intel and Mobileye will allow Mobileye’s leading computer
Intel estimates the vehicle systems, data and services market opportunity to be up to $70 billion by 2030.
Intel CEO Brian Krzanich explains: “With Mobileye, Intel emerges as a leader in creating the technology foundation that the automotive industry needs for an autonomous future. It’s an exciting engineering challenge and a huge growth opportunity for Intel. Even more exciting is the potential for autonomous cars to transform industries, improve society and save millions of lives.”
Mobileye will remain headquartered in Israel and led by Prof. Amnon Shashua who will serve as Intel senior vice president and Mobileye CEO and chief technology officer. In addition, Ziv Aviram, Mobileye co-founder, president and CEO, is retiring from the company, effective immediately. | 09/08/2017 | Tim Harrup