The Jewish Voice | MARCH 17, 2017

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Vol. 14, Iss. 11

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Intel Buys Mobileye for $15.3B in Historic Deal; Israel Becomes Leading Tech Powerhouse

Mobileye, a Jerusalem-based company was founded in 1999 by Prof. Amnon Shashua, of the Hebrew University, and Ziv Aviram. Shashua is the company’s CTO, Aviram, who has a business background, is the CEO. In a historic deal, computer chip giant Intel is purchasing Mobileye for $15.3 billion making Israel a leading technological force to be reckoned with

By: Yoni Ariel

I

ntel, one of the world’s biggest technology conglomerates has confirmed reports on Monday that it has agreed to purchase Mobileye for between $14-15 billion. This would be the biggest sale in the history of Israeli hi-tech. The biggest sales of Israeli companies until now were NDS, acquired by Cisco for $5 billion, and Chromatis, acquired by Lucent for $4.5 billion. The US computer chip giant released a statement to the media about the unprecedented acquisition of Mobileye in which they said: "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." Intel Corp. will pay $63.54 for each share of Mobileye N.V., a 34 percent premium to its Friday closing price. That's below Mobileye's record high closing price of $64.14 in August 2015 after Morgan Stanley raised its target price on the shares to $80. Mobileye NV's stock closed Monday up 28 percent to $60.62. Intel shares fell 2 percent to $35.16. Mobileye, a Jerusalem-based company was founded in 1999 by Prof. Amnon Shashua, of the Hebrew Uni-

versity, and Ziv Aviram. Shashua is the company’s CTO, Aviram, who has a business background, is the CEO.

Mobileye describes itself as the "global leader in the development of computer vision and machine learning, data analysis, localization and mapping for Advanced Driver Assistance Systems and autonomous driving." Mobileye describes itself as the "global leader in the development of computer vision and machine learning, data analysis, localization and

mapping for Advanced Driver Assistance Systems and autonomous driving." The company develops driver assistance systems and is considered one of the leading developers of automated car technology. The company’s technologies are used by many of the world’s leading automobile manufacturers, as they look for ways to effectively complete with Google, Apple and Telsa, all of which are developing autonomous vehicle technologies. The company's worth has been estimated at $10.5 billion, up 85 percent from when it went public in July 2016. Mobileye's $890 million IPO made it the largest Israeli public offering in the United States

Last July Intel, the BMW Group and Mobileye announced they were creating a joint autonomous vehicle task force to bring solutions for highly and fully automated driving into full-scale production by 2021. BMW announced in January of this year that it would deploy 40 self-driving vehicles for tests in the United States and Europe. AP reported that the Mobileye deal will help put Intel in the driver's seat in terms of supplying vital parts of autonomous vehicles, said IHS Markit analyst Akhilesh Kona. Besides Mobileye's technology, Intel is gaining access

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The Jewish Voice | MARCH 17, 2017 by Mike Kurov - Issuu