Computer chip giant Intel to enter autonomous vehicle market with $15 billion acquisition of Israel’s Mobileye, sources say.
Technology giant Intel is purchasing Israeli company Mobileye for 14-15 billion dollars, in the biggest deal in the history of the Israel’s high-tech industry, sources told Themarker.
Mobileye’s market value is 10.5 billion dollars. The two companies are expected to announce the deal in coming hours, and did not confirm reports of the purchase.
Mobileye, based in Jerusalem, was founded in 1999 by Prof. Amnon Shashua, who serves as CTO, and CEO Ziv Aviram. The company develops driver assistance systems and is developing the technology for automated cars.
The company’s technologies are installed by traditional car manufacturers, which compete with technological giants such as Google, Apple and Tesla.