Intel buys Mobileye for USD 15.3 bln

News Wireless Global 13 MRT 2017
Intel buys Mobileye for USD 15.3 bln

Intel has acquired Mobileye for USD 63.54 per share in cash, representing an equity value of USD 15.3 billion and an enterprise value of USD 14.7 billion.

Intel said that the acquisition will accelerate innovation for the automotive industry, combining its own computing and connectivity expertise with Mobileye’s computer vision expertise to create automated driving solutions from the cloud through the network to the car. Intel believes the vehicle systems, data and services market will be worth up to USD 70 billion by 2030.

Intel and Mobileye joined forces last summer, with BMW Group, to make autonomous cars and develop future mobility concepts. BMW later said it plans to launch a fleet of self-driving fleet by the second half of 2017, with the help of the two companies.

Categories:

Mobile

Companies:

Intel,  Mobileye

Regions:

Global

Tags:

Data services, Consumer devices, Corporate strategy, M&A buyouts & divestments

Related Articles

GLOBAL 7 DEC 2021

Intel plans IPO for Mobileye in 2022

Intel announced plans to spin off Mobileye, its subsidiary working on autonomous driving systems, with a separate stock market listing. The company expects to take Mobileye public in the US in mid-2022 via an initial public offering of newly issued Mobileye stock, while maintaining majority control of the company.

GLOBAL 26 JAN 2018

Intel raises dividend after better-than-expected Q4 results

Intel reported better-than-expected sales for the fourth quarter, up 4 percent year-on-year to USD 17.1 billion. The company's net result moved to a loss of USD 0.7 billion from a profit of USD 3.6 billion a year earlier, due to a one-time charge for repatriating foreign earnings under the US corporate tax reform. Adjusted EPS increased 37 percent to USD 1.08, also better than forecast.

SOUTH AFRICA 6 DEC 2017

Netstar adds Mobileye's Advanced Driver Assist System to its range

South African company Altech Netstar is adding Intel company Mobileye's vision-based Advanced Driver Assist System (ADAS) to its range reports IT-Online. This collaboration is also in partnership with Road Eye Systems, an official Mobileye distributor in South Africa. Altech Netstar offers a wide range of digitally connected fleet and telematics services in Africa and Australia.

UNITED STATES 30 NOV 2017

Intel cuts immersive content deal with Warner Bros for autonomous cars

Intel cited recent transportation surveys which indicated the average American spends more than 300 hours per year behind the wheel. With the expansion of time an autonomous car could bring, immersive content could be presented in completely new ways, using in-cabin virtual reality (VR) and augmented reality (AR) innovations. For example, a fan of the superhero Batman could enjoy riding in the Batmobile through the streets of Gotham City. AR capabilities could render the car a literal lens to the outside wo

GLOBAL 27 OKT 2017

Intel ups FY outlook again after better-than-expected Q3 results

Intel reported better-than-expected results for the third quarter and increased its forecast for full-year results again. Revenues rose 2 percent year-on-year to USD 16.1 billion, and adjusted EPS increased 26 percent to USD 1.01, compared to guidance of respectively USD 15.7 billion and 80 cents.

GLOBAL 16 AUG 2017

Fiat Chrysler joins Intel Mobileye autonomous driving platform

Fiat Chrysler Automobiles (FCA) has become the first automaker to join BMW, Intel and Mobileye in their venture to develop an autonomous driving platform for global deployment. The development partners intend to leverage each other's individual strengths, capabilities and resources to enhance the platform's technology, increase development efficiency and reduce time to market. One enabler to achieve this will be the co-location of engineers in Germany, as well as other locations.

GLOBAL 9 AUG 2017

Mobileye CEO retires after Intel takeover

Intel has completed its takeover of Mobileye, the developer of computer vision and machine learning for driver assistance systems and autonomous driving. 

GLOBAL 28 JUL 2017

Intel raises FY guidance after Q2 sales rise 9% to USD 14.8 bln

Intel has raised its full-year revenue outlook after a stronger-than-expected second-quarter saw revenues increase 9 percent to USD 14.8 billion, with net profit more than doubling to USD 2.8 billion compared to USD 1.3 billion a year earlier. The figures corresponded to earnings of 58 cents per share, up 115 percent year on year, or 72 cents per share on an adjusted basis, up 22 percent. Looking ahead, Intel proceeded to raise its full-year 2017 revenue guidance by USD 1.3 billion to USD 61.3 billion, with

GLOBAL 24 MRT 2017

Intel sets up dedicated Artificial Intelligence unit

Intel has announced plans to create a single Artificial Intelligence (AI) group under Naveen Rao, former CEO of deep learning specialist Nervana, acquired by Intel last year. Reporting directly to Intel CEO Brian Krzanich, the new pan-Intel body will be called Artificial Intelligence Products Group (AIPG) and will align resources from across the company to include engineering, labs, software and more on the basis of the Nervana hardware and software stack. "Intel intends to rally the industry around a set o

GLOBAL 13 MRT 2017

Intel koopt Mobileye voor 15,3 miljard dollar

Intel heeft Mobileye overgenomen voor een bedrag van 63,54 dollar per aandeel. Daarmee wordt de waarde van Mobileye op 15,3 miljard dollar bepaald. Volgens Intel betekent de overname een versnelde innovatie voor de automotive industrie. Intel kan zijn computing en expertise op het gebied van connectiviteit nu combineren met Mobileye's computer vision expertise. Hiermee krijgt de ontwikkeling van de zelfrijdende auto een nieuwe boost. Vorig jaar startten Intel, Mobileye en BMW een samenwerking voor het maken

GERMANY 5 JAN 2017

BMW to launch autonomous fleet in 2017

Around 40 autonomous vehicles from the BMW Group will be on the road by the second half of 2017, the car manufacturer announced. BMW Group, in conjunction with Intel and Mobileye, have developed the BWM 7 Series as its first self-driving car. Road tests are expected to start this year in Europe and the US. BWM Group, Intel and Mobileye announced their collaboration in July last year.

GLOBAL 30 DEC 2016

Here, Mobileye team up on autonomous driving

Here and Mobileye announced plans for a strategic partnership that links their autonomous driving technologies into an enhanced offering for automakers. The companies will partner on Rem and Open Location Platform technology to enable crowd-sourced HD mapping for automated driving.

GLOBAL 3 JUL 2016

Intel, BMW, Mobileye to develop self-driving cars

Intel confirmed it has joined forces with BMW Group and Mobileye to make self-driving vehicles and develop future mobility concepts. The companies are aiming to introduce systems for highly and fully automated driving into series production by 2021. The BMW iNEXT model will be the foundation for BMW Group's autonomous driving strategy and set the basis for fleets of fully autonomous vehicles, not only on highways but also in urban environments for the purpose of automated ridesharing solutions.

GLOBAL 8 JUL 2013

Mobileye attracts USD 400 mln from investors

Crash avoidance technology provider Mobileye has raised USD 400 million as part of its latest fund raising drive, in a deal valuing the company at USD 1.5 billion, the Wall Street Journal reported. The fundraising comes from BlackRock, Fidelity Investments, Wellington Management; car-rental company Enterprise Holdings, and a Chinese investment group, according to a person familiar with the investment. The funds will be used to cash out some early investors and prepare for next year's initial public offering

Just In

19 DEC 16:42

SLT-Mobitel launches 5G network in Sri Lanka

19 DEC 16:19

Dialog Axiata launches 5G network, connects 1.5 million subscribers

19 DEC 15:56

UK govt to ban AI-enabled nudification apps to protect women, girls

19 DEC 15:42

3 UK launches last-minute Christmas sale

Commentary

13:56

Video market set for slower growth ahead

11:38

Netflix buys Warner Bros to deepen content catalogue

11:11

KPN's mixed performance in Q3 raises questions for strategy day

15:26

Stock markets breaking records but what happened to Odido's IPO plans?

Background

01:04

The week in telecom: Wi-Fi bolt-ons take off to boost broadband growth, video market works on consolidation

01:39

The week in telecom: Netflix wins bidding for Warner Bros, Apple poaches new execs, Samsung debuts trifold

13:51

Proximus vs. Telenet: Proximus performs better in Q3 while Telenet uses up cash

14:16

Proximus Domestic still struggling with low margins

Complete profile

Before downloading the whitepaper, we would like to ask you to complete your profile with company and position. After confirming you will receive the white paper.