Thursday, 30 March, 2017

Intel reportedly acquiring Mobileye's self-driving auto technology in $15 billion deal

Mobileye Intel buys Mobileye for reported $15 billion in massive self-driving car coup
Preston Stone | 14 March, 2017, 00:17

Intel has worked increasingly with Mobileye, announcing plans past year to deploy 40 autonomous cars as part of trials with BMW.

The deal, valued at $15.3 billion, is expected to close in the next nine months.

The acquisition will cost Intel approximately $15.3 billion.

"This acquisition is a great step forward for our shareholders, the automotive industry and consumers", Intel CEO Brian Krzanich said in a statement (PDF). Intel and MobilEye have already been working together on BMW's iNext autonomous driving platform which the German vehicle manufacturer wants to put into service in less than five years. Together, those technologies are key to building autonomous cars and developing highly automated driving functions.

"Intel is not looking to have their people come in and run Mobileye", said Ziv Aviram, Mobileye's other founder and chief executive, in a letter to employees. Amid safety concerns about Tesla's Autopilot technology, the two companies engaged in public finger-pointing.

Turkey warns USA on Raqqah push with Kurdish help
Washington has stated its opposition to the Kurdish-led autonomous zones in northern Syria , even as it backs the YPG militarily. Turkish forces have already pushed deep into northern Syria to retake Islamic State-held territory along its borders.

Intel estimates the value of opportunities in the autonomous vehicle market to reach $70 billion by 2030.

Intel, the leading chip-maker, has today confirmed that it is acquiring Mobileye - an Israel-based company that also makes chip, but for vision-based vehicle automation.

Mobileye, which started trading on the New York Stock Exchange in August 2014, is a supplier of collision-avoidance auto sensor systems. Interestingly, there may not be that much difference for Intel between self-driving cars and data centers.

It is safe to say that Intel never shied away in admitting that it is pretty serious in penetrating the autonomous vehicle industry. Mobileye is well-rounded in terms of creating self-driving software, while Intel already has an established reputation in making hardware chips.

On Monday, Intel announced that it has purchased the company for £12.5bn, marking the biggest-ever acquisition of an Israeli tech company. "Within the [group] are resident skill sets that are largely complementary to ours.Combining forces will help accelerate our plans and lower our execution risks".

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