Intel is buying Mobileye over 15.3 billion dollars

Confirming the preliminary information, Intel yesterday announced the purchase of the company Mobileye.

Concluded by the parties the agreement provides for the acquisition of a subsidiary of Intel of all Mobileye shares at a price 63,54 per share. This price corresponds to a total amount of 15.3 billion dollars. The buyer expects to pay for the purchase with its own funds. The transaction is expected within the next nine months.

In a press release on the deal, said that it will allow us to combine «best-in-class technologies from both companies». In the case of Intel’s high-performance processors and connectivity, and in the case of Mobileye developments in the field of machine vision and of driverless cars. The result is creating solutions for automated driving, including cloud, network connection and a car.

Intel expects that the acquisition will accelerate innovation in the automotive industry and make the company «a leading provider of technology» for fast-growing market of automated and fully driverless vehicles. The evaluation of Intel, the market for the systems and services by 2030 will reach 70 billion dollars.

Source: Intel



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