Intel Buying Israeli Self-Driving Car Technology company Mobileye for $15 Billion

"The acquisition of Mobileye essentially merges the intelligent eyes of the autonomous auto with the intelligent brain that actually drives the vehicle", said Brian Krzanich, chief executive of Intel. As per local Israeli publication, The Maker, Intel has agreed to pay approximately $15 billion to purchase Mobileye. Last year, Intel bought Yogitech, Arynga, and Itseez-all smaller companies working on technologies critical to autonomous vehicles.

Many of you have asked why we think autonomous cars and vehicles are so important to Intel's future.

Mobileye was founded in 1999 by CTO Amnon Shashua, and CEO Ziv Aviram, with the aim of reducing road fatalities.

As carmakers and technology companies race for position in developing autonomous driving technologies, Monday's move by Intel is an attempt to get in on a fundamental element of the technology. Intel SVP Doug Davis is overseeing how the two companies will coordinate together.

Following the acquisition, Mobileye will combine with Intel's existing automated driving group. Israel-based Mobileye is behind some of the technology that makes self-driving cars a real possibility and has been partnered with Intel for a few years now. "We believe these capabilities which started with hands-free highway driving will gradually extend to other types of roadways, such as country and city driving".

"By pooling together our infrastructure and resources, we can enhance and accelerate our combined know-how in the areas of mapping, virtual driving, simulators, development tool chains, hardware, data centres and high-performance computing platforms".

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Mobileye, which started trading on the New York Stock Exchange in August 2014, is a supplier of collision-avoidance vehicle sensor systems.

As cars progress from assisted driving to fully autonomous, they are increasingly becoming data centres on wheels.

The deal is expected to close within the next nine months, subject to regulatory approvals.

It is safe to say that Intel never shied away in admitting that it is pretty serious in penetrating the autonomous vehicle industry.

The two companies are collaborating with BMW on a project to deploy about 40 modified BMW 7 Series sedans for testing on public roads in the USA and Europe by the second half of 2017.

The Intel-Mobileye portfolio includes cameras, sensor chips, in-car networking, roadway mapping, machine learning, cloud software and data fusion and management.

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