Intel Corp. has purchased Mobileye NV, an Israeli developer of computer vision and machine learning, data analysis, localization, and mapping for advanced driver assistance systems and autonomous driving. An Intel subsidiary will commence a tender offer to acquire all of the issued and outstanding ordinary shares of Mobileye for $63.54 per share in cash, representing an equity value of approximately $15.3 billion and an enterprise value of $14.7 billion, according to Intel.
The combination 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,” according to Intel. The company estimates the vehicle systems, data, and services market opportunity to be up to $70 billion by 2030.
The new combined autonomous driving organization, which will consist of Mobileye and Intel’s Automated Driving Group, will be headquartered in Israel and led by Amnon Shashua, Mobileye’s co-founder, chairman and CTO, according to Intel. The organization will support both companies’ existing production programs and build on their relationships with automotive OEMs, Tier-1 suppliers, and semiconductor partners to develop advanced driving-assist, highly autonomous and fully autonomous driving programs.