Intel buys Mobileye in a $15.3billion deal

Intel buys Mobileye in a $15.3billion deal

Intel acquires Mobileye

Intel, the technology company best known for their processors, have acquired Mobileye in a $15.3 billion deal. Mobileye are leaders when it comes to computer vision for autonomous driving, so the purchase will advance Intel’s strides into driving cars.

Mobileye are proud developers of software called the Advanced Driver Assist Systems (ADAS) which aims to make roads safer, ease traffic congestion and ultimately save lives. The company has been working with Intel since last year. This year, the duo have paired with BMW to test the software of both companies with 40 automated cars.

Intel CEO Brian Krzanich believes the acquisition represents momentous progress for his company.

“This acquisition is a great step forward for our shareholders, the automotive industry and consumers. Intel provides critical foundational technologies for autonomous driving including plotting the car’s path and making real-time driving decisions. Mobileye brings the industry’s best automotive-grade computer vision and strong momentum with automakers and suppliers. Together, we can accelerate the future of autonomous driving with improved performance in a cloud-to-car solution at a lower cost for automakers.”

In a joint statement by Intel and Mobileye, both companies have said that:

“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. The transaction extends Intel’s strategy to invest in data-intensive market opportunities that build on the company’s strengths in computing and connectivity from the cloud, through the network, to the device.”

Despite the positivity of the joint message, the terms of the deal haven’t been disclosed. The future of automated cars is certainly in progressive hands.