Intel completes $15.3 bn Mobileye deal to fuel autonomous driving

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Joining the autonomous driving race in top gear, Intel has completed the $15.3 billion acquisition of Israeli technology company Mobileye.

Mobileye is a global leader in the development of computer vision and machine learning, data analysis, localisation and mapping for advanced driver assistance systems and autonomous driving.

Intel Corp further extended its offer to buy out remaining shareholders of Mobileye NV after securing 84 percent of the acquisition target’s shares.

According to Intel, the vehicle systems, data and services market will be worth up to $70 billion by 2030.

The acquisition is expected to accelerate innovation for the automotive industry and positions Intel as a leading technology provider in the fast-growing market for highly and fully autonomous vehicles.

“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 in a statement.

The combination of Intel and Mobileye will allow Mobiley”s leading computer vision expertise to complement Intel’s high-performance computing and connectivity expertise to create automated driving solutions from Cloud to car.

Intel’s Automated Driving Group (ADG) will combine its operations with Mobileye.

Mobileye would remain headquartered in Israel and led by Professor Amnon Shashua who will serve as Intel senior vice president and Mobileye CEO and chief technology officer.

“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,” Shashua said.

Mobileye, an Intel Company, will start building a fleet of autonomous vehicles for testing in the United States, Israel and Europe.

Mobileye will deploy the vehicles later this year, and the fleet will eventually scale to more than 100 automobiles.

“Building cars and testing them in real-world conditions provides feedback and accelerate delivery of technologies and solutions for highly and fully autonomous vehicles,” said Amnon Shashua, soon-to-be senior vice president of Intel Corporation and future CEO/CTO of Mobileye.

Intel’s new entity will combine capabilities from Mobileye including computer vision, sensing, fusion, mapping and driving policy along with Intel’s leading open compute platforms and expertise in data center and 5G communication technologies to deliver a complete “car-to-cloud” system.

The fleet will include multiple car brands and vehicle types to demonstrate the technology’s agnostic nature.

Delivering 100 test cars will demonstrate how this hybrid system can be adapted to meet customer needs. The test fleet will allow the hybrid solution based on Mobileye and Intel technology to serve as a base to interact directly with regulators. It will also showcase novel concepts of mapping and safety validation, which are both geared toward scalability.

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