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Globes: Intel buying Mobileye for $15b

Published on Mar 14 2017 // Business and Financial News, Market

13 March, 2017 13:16 –┬áThe deal is the biggest ever exit in the history of Israel’s high-tech industry.

US semiconductor giant Intel is buying Israeli vehicle safety and automation systems company Mobileye (MBLY). Market sources put the size of the deal at $15 billion, which makes it the biggest ever exit in the history of Israel’s high-tech industry. The deal was first reported today by the “The Marker”.

Mobileye was founded by Amnon Shashua and Ziv Aviram in 1999. It developed camera-based technology for warning of road hazards. The company’s main growth engine today is the systems it is developing for driverless cars.

Mobileye was floated on Wall Street in 2014 and currently has a market cap of some $10.5 billion. Its share price has shot up about 30% since news of the deal with Intel broke…..Read More>>

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