Intel completes $15.3b Mobileye buy, slides into gear for autonomous driving future
Intel has completed its $15.3 billion acquisition of Israeli computer vision and machine learning vendor Mobileye as it seeks to take on the autonomous driving market.
Mobileye is a leader in computer vision and machine learning, data analysis, localisation and mapping for Advanced Driver Assistance Systems and automomous driving. The vendor’s technology was used in the Tesla Autopilot 1.0 and its products are being used in serial production of more than 300 car models from 27 OEM partners.
The two companies announced the deal in March, saying it would couple Intel’s high-perfomance computing and connectivity expertise with Mobileye’s computer vision expertise ‘to create automated driving solutions from the cloud through the network to the car’.
Brian Krzanich, Intel chief executive, says “With Mobileye, Intel emerges as a leader in creating the technology foundation that the automotiv industry needs for an autonomous future.
“It’s an exciting engineering challenge and a huge growth opportunity for Intel.”
The technology giant has acquired around 84% of Mobileye’s outstanding ordinary shares and has extended its offer to buy out the outstanding shareholders.
Intel’s Automated Driving Group will combine its operations with Mobileye, which will remain headquartered in Israel and lead by Amnon Shashua, who will become an Intel senior vice presient and Mobileye chief executive and chief technology officer.
Mobileye co-founder, president and chief executive Ziv Aviram has retired from the company.