Intel buys autonomous driving company Mobileye

Intel has entered into a definitive agreement to buy the autonomous driving technology company Mobileye – and the price tag is likely to be around $15bn. In a statement issued today (13 March), Intel said: “Under the terms of the agreement, a subsidiary of Intel will commence a tender offer to acquire all of the issued and outstanding ordinary shares of Mobileye for $63.54 per share in cash, representing a fully-diluted equity value of approximately $15.3bn and an enterprise value of $14.7bn.

“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.”

Intel said the tie-up with Mobileye will position it as “a leading technology provider in the fast-growing market for highly and fully autonomous vehicles” – a market which Intel believes could be worth up to $70bn by 2030.