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Semiconductor giant Intel is to acquire Mobileye in a deal that values the company at an eye-watering $15.3bn. Israel-based Mobileye develops vision-based technology used in self-driving vehicles and Intel is, obviously, expecting the company’s technology to play a big part in the anticipated autonomous vehicle revolution.
Jerusalem-based Mobileye’s driver assistance technology provides warnings before collisions. Tesla began incorporating the companies‘ technology into its Model S cars in 2015.
Intel partnered with Mobileye last year, along with BMW , with the goal of making an autonomous car powered by its processors and the Israeli firm’s software by 2021. In January, Mobileye announced it was developing a test fleet of autonomous cars together with the two companies.
On Monday, Intel announced that it has purchased the company for £12.
