IT’S OFFICIAL: Intel is buying the autonomous-driving company Mobileye for $15.3 billion
#Intel is buying the Israeli autonomous-driving company #Mobileye for $63.54 a share in cash, or about $15.3 billion. Mobileye soared about 30% in premarket trading Monday after the Israeli newspaper Haaretz broke the news. The Jerusalem-based company develops vision-based driver-assistance tools to provide warnings before collisions. “Mobileye brings the industry’s best automotive-grade computer vision and strong momentum with automakers and suppliers,” Intel CEO Brian Krzanich said in a statement. “Together, we can accelerate the future of autonomous driving with improved performance in a cloud-to-car solution at a lower cost for automakers.” Tesla began incorporating Mobileye’s technology into Model S cars in 2015. In January, it announced it was developing a test fleet of autonomous cars together with BMW and Intel. Mobileye was cofounded in 1999 by Amnon Shashua, an academic, and Ziv Aviram, who is the CEO. Goldman Sachs and Morgan Stanley took it public in 2014.