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Intel acquires self-driving car tech firm Mobileye for US$15 billion

By Cookie Monster - on 14 Mar 2017, 1:00am

Intel acquires self-driving car tech firm Mobileye for US$15 billion

Image source: Intel

Intel makes a big push into the autonomous driving sector today with the acquisition of Israeli firm Mobileye.

The US$15 billion deal is said to be the biggest tech takeover in Israeli's history and the largest acquisition of a company mainly focused on the self-driving sector. Mobileye will combine with Intel's Automated Driving Group and be led by Mobileye's cofounder Amnon Shashua .

Mobileye, founded in 1999, develops the technology powering cars' driving assistance systems which include adaptive cruise control, lane departure warnings and distance keeping. Major car brands such as BMW, Volvo and Cadillac are already using Mobileye's technology. 

In July 2016, BMW, Intel and Mobileye shared plans to have self-driving cars in full production by 2021. They also intend to test out 40 autonomous cars on the roads in the second half of the year. 

Source: VentureBeat