Intel Corp. and Mobileye N.V. have announced the completion of Intel’s tender offer for outstanding ordinary shares of Mobileye. Intel expects this acquisition 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.
The combination of Intel and Mobileye will allow Mobileye’s computer vision expertise to complement Intel’s high-performance computing and connectivity expertise to create automated driving solutions from cloud to car. Intel estimates the vehicle systems, data and services market opportunity to be up to $70 billion by 2030.
“With Mobileye, Intel emerges as a leader in creating the technology foundation that the automotive industry needs for an autonomous future,” said Intel CEO Brian Krzanich. “It’s an exciting engineering challenge and a huge growth opportunity for Intel. Even more exciting is the potential for autonomous cars to transform industries, improve society and save millions of lives.”
Intel’s Automated Driving Group (ADG) will combine its operations with Mobileye. The combined Mobileye organization will lead Intel’s autonomous driving efforts, and will have the full support of Intel resources and technology to define and deliver cloud-to-car solutions for the automotive market segment. Mobileye will remain headquartered in Israel and led by Prof. Amnon Shashua who will serve as Intel senior vice president and Mobileye CEO and chief technology officer. In addition, Ziv Aviram, Mobileye co-founder, president and CEO, is retiring from the company, effective immediately.
“Leading in autonomous driving technology requires a combination of innovative proprietary software products and versatile open-system hardware platforms that enable customers and partners to customize solutions,” said Shashua. “For the first time, the auto industry has a single partner with deep expertise and a cultural legacy in both areas. Mobileye is very excited to begin this new chapter.”
Mobileye will support and build on both companies’ existing technology and customer relationships with automakers, Tier-1 suppliers and semiconductor partners to develop advanced driving assist, highly autonomous and fully autonomous driving programs.