Earlier today we heard a rumor that Intel was buying Mobileye, Intel has now confirmed the acquisition and the deal is worth around $15.3 billion.
Intel will buy Mobileye for $63.54 per share in cash, this give an enterprise valuation of the deal of $14.7 billion.
The acquisition will couple the best-in-class technologies from both companies, including Intel’s high-performance computing and connectivity expertise and Mobileye’s leading computer vision expertise to create automated driving solutions from the cloud through the network to the car.
The combination is expected to accelerate innovation for the automotive industry and position Intel as a leading technology provider in the fast-growing market for highly and fully autonomous vehicles. Intel estimates the vehicle systems, data and services market opportunity to be up to $70 billion by 2030. The transaction extends Intel’s strategy to invest in data-intensive market opportunities that build on the company’s strengths in computing and connectivity from the cloud, through the network, to the device.
You can find out more information about the deal between Intel and Mobileye over at Intel at the link below.
Source IntelFiled Under: Technology News