Just in:
2024 Lok Sabha Election Is A Historic Battle Against The Advent Of Fascism In India // Hullabaloo About Electoral Bonds May End Up As A Whimper Pre And Post Poll // Experts come together to support updating the city’s nature conservation masterplan // Universal Language for Healthcare: General Authority Embraces Global Coding System // Renewables Surge Sets Record, But Global Equity Lags // In Lok Sabha Polls In Punjab, AAP Is Advantageously Placed As Against Its Three Rivals // Court Sides with Coinbase on Wallet Service, But Staking Program Remains in Limbo // AI Boost for Galaxy Devices: Samsung Expands One UI 6.1 Update // Employer Obligations Tighten: 30-Day Deadline for Emirati Employee Registration with GPSSA // Sharpening the Focus: Sharjah Health Department Refines Evaluation Criteria for “Healthy Schools Programme” // The World’s First & Wettest Party: “S2O Hong Kong Songkran Music Festival” proudly returns Get an immersive water and music experience on 8-9 June during Dragon Boat Festival long weekend at Central Harbourfront Event Space! // Near Miss at Kolkata Airport: IndiGo Plane Makes Contact with Stationary Air India Express // Infineon and HD Korea Shipbuilding & Offshore Engineering jointly develop ship electrification technology // Meta Earth Official Website Launch: The Pioneer Explorer in the Modular Public Blockchain Domain // Hope for Respite as UAE Endorses UN Plea for Gaza Truce // Party Nominees Refusing To Contest: Major Perception Threat For BJP // Andertoons by Mark Anderson for Wed, 27 Mar 2024 // Hong Kong Seen Granting Mainland Investors Access to Crypto via ETFs // HSBC Streamlines Gold Investment for Hong Kong Residents with Tokenized Product // Lisboeta Macau’s world first LINE FRIENDS PRESENTS CASA DE AMIGO and BROWN & FRIENDS CAFE & BISTRO has officially opened //
HomeTAP ResearchIntel drops $15B on Mobileye in race for a driverless future

Intel drops $15B on Mobileye in race for a driverless future

1489419739 inteldrops15

This Wednesday, Oct. 14, 2015, file photo, shows a Mobileye camera system that can be installed in your car to monitor speed limits and warn drivers of potential collisions, mounted behind the rearview mirror during a demonstration of the system, in Ann Arbor, Mich. Intel is buying Mobileye in a deal announced Monday, March 13, 2017, and valued at about $14.09 billion, the latest push by a major tech company into autonomous vehicles that could change the way traffic moves globally. (AP Photo/Carlos Osorio, File)

Intel will buy Israel’s Mobileye in a deal valued at about $15 billion, instantly propelling the computer chip and technology giant to the forefront of autonomous vehicle technology.


The deal announced Monday combines Mobileye’s market-leading software that processes information from cameras and other sensors with Intel’s hardware, data centers and its own software, giving automakers a one-stop place to shop for fully autonomous car systems.

ADVERTISEMENT

“This acquisition essentially merges the intelligent eyes of the autonomous car with the intelligent brain that actually drives the car,” Intel CEO Brian Krzanich wrote in a note to employees about the acquisition.

The combination, expected to close by year’s end, will allow the companies to bring components to market faster at a lower cost, solidifying Mobileye’s leadership position, officials from the companies said.

ADVERTISEMENT

Automakers and some technology companies are testing in California, Michigan and a few other states. Nearly all use Mobileye’s software, which reads inputs from cameras, radar, and laser sensors and makes decisions on what an autonomous car should do. Jerusalem-based Mobileye says it has contracts with 27 different automakers. It also makes software that runs automatic emergency braking and semi-autonomous cruise control systems that are in cars and trucks on the road today.

Autonomous cars will need higher levels of connectivity to the Internet and access to bigger data centers, which Intel can provide, Krzanich said. The two companies also will combine highly detailed mapping efforts. Automakers, Krzanich said, want lower costs, faster times to market and the ability to get an system in one place.

“If you put all of that together, you really get an end-do-end solution for autonomous driving,” said Mobileye Chairman and co-founder Amnon Shashua, who will continue to lead the combined autonomous car unit.

In this Wednesday, Jan. 4, 2017, file photo, a model demonstrates a Project Alloy all-in-one merged reality headset during an Intel news conference before CES International, in Las Vegas. Intel is buying Mobileye in a deal announced Monday, March 13, 2017 and valued at about $14.09 billion, the latest push by a major tech company into autonomous vehicles that could change the way traffic moves globally. (AP Photo/John Locher, File)

In the deal, Intel Corp. will pay $63.54 for each share of Mobileye N.V., a 34 percent premium to its Friday closing price. The boards of both companies still have to approve the transaction. The companies put the equity value of the deal at $15.3 billion.

The deal is the latest combination as automakers and technology firms race to build and for leadership in life-saving electronics. Mobileye, with 660 employees, has been forming partnerships worldwide as its growth continued as a separate company. BMW, Intel and Mobileye partnered last year, and Mobileye teamed up with Delphi Automotive to develop building blocks for a .

Competitors also formed partnerships in 2016. Ride-hailing company Uber Technologies and Volvo signed a $300 million deal for Volvo to provide SUVs to Uber for autonomous vehicle research. General Motors Co. invested $500 million in Uber rival Lyft Inc. to develop a fleet of autonomous electric taxis.

Google has a partnership with Fiat Chrysler to work on autonomous minivans, and Volkswagen is working with Uber competitor Gett. Ford has invested $150 million in laser sensor maker Velodyne, and it recently announced a $1 billion purchase of budding robotics startup Argo AI.

Israeli Prime Minister Benjamin Netanyahu praised the Intel acquisition of Mobileye, which he said was the largest deal in the country’s history. He said he’s been assured that the company’s operations will stay in Israel. “The purchase dramatically proves that the vision we are leading is coming true. Israel is turning into a global technology center, not just in cyber but also in the automotive industry,” he said.

The combined global autonomous driving company, which includes Mobileye and Intel’s autonomous driving group, will be based in Israel, supporting both companies’ existing production programs and building on relationships with , Tier-1 parts suppliers and semiconductor partners, the companies said.

Mobileye’s stock jumped nearly 30 percent Monday to $61.34 in morning trading.


Explore further:
Delphi, Mobileye join forces on autonomous car platform (Update)

Source link

ADVERTISEMENT

ADVERTISEMENT
Just in:
Employer Obligations Tighten: 30-Day Deadline for Emirati Employee Registration with GPSSA // Meta Earth Official Website Launch: The Pioneer Explorer in the Modular Public Blockchain Domain // Lisboeta Macau’s world first LINE FRIENDS PRESENTS CASA DE AMIGO and BROWN & FRIENDS CAFE & BISTRO has officially opened // Court Sides with Coinbase on Wallet Service, But Staking Program Remains in Limbo // The World’s First & Wettest Party: “S2O Hong Kong Songkran Music Festival” proudly returns Get an immersive water and music experience on 8-9 June during Dragon Boat Festival long weekend at Central Harbourfront Event Space! // Emirates Post Speeds Up Deliveries for GCC with Special Day // Experts come together to support updating the city’s nature conservation masterplan // Andertoons by Mark Anderson for Wed, 27 Mar 2024 // Study: Stainless steel circular economy significantly reduces the risk of climate change in Thailand // 2024 Lok Sabha Election Is A Historic Battle Against The Advent Of Fascism In India // Sunshine’s Debut Features Leave Tech World Scratching Its Head // AIA Hong Kong Wins More Than 20 Accolades at MPF Ratings MPF Awards, BENCHMARK MPF of The Year Awards and Bloomberg Businessweek Top Fund Awards // Renewables Surge Sets Record, But Global Equity Lags // AI Boost for Galaxy Devices: Samsung Expands One UI 6.1 Update // HSBC Streamlines Gold Investment for Hong Kong Residents with Tokenized Product // Sharpening the Focus: Sharjah Health Department Refines Evaluation Criteria for “Healthy Schools Programme” // In Lok Sabha Polls In Punjab, AAP Is Advantageously Placed As Against Its Three Rivals // Universal Language for Healthcare: General Authority Embraces Global Coding System // Arvind Kejriwal Gets International Heft Against The Deshi Vishwaguru // Andertoons by Mark Anderson for Thu, 28 Mar 2024 //