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Old 15th March 2017, 13:03   #1
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Default Intel acquires self-driving technology maker - Mobileye for $15.3 billion

Intel, the world's largest computer chip maker, has announced the acquisition of Israel-based self-driving technology firm Mobileye in a deal worth $15.3 billion. This deal marks Intel's foray into the rapidly growing segment of the tech industry - self-driving cars. The said acquisition agreement has valued Mobileye at $63.54 per share.

Founded in the year 1999, Mobileye is currently the largest supplier of driver assistance technologies with a global market share of around 70%. Its current client list comprises of 27 automakers, including brands like BMW, Ford, Audi, Volvo and Nissan. The said $15.3 billion acquisition of the firm is being claimed to be the largest of its type for any autonomous driving tech company. With this acquisition, Intel has now become a direct competitor to other chip manufacturers like Nvidia and Qualcomm for developing self-driving systems for global automakers.

Post the said deal, Intel will be merging its in-house Automated Driving Group with Mobileye, with the company being headquartered from Israel. The combined firm will be headed by Mobileye's Chairman and Chief Technology Officer (CTO) - Amnon Shashua.

Intel has been expanding its business verticals to diversify its operations away from the company's core computed semiconductor chip business. Since the personal computer business is showing an apparent slowdown with the advent of smartphones, Intel is now looking forward to the next big technology changes that have huge potential in the near future. Autonomous car technology is an expanding domain, with the market expected to grow from $3 billion in 2015 to $96 billion in 2025.

Source: Reuters

Intel acquires self-driving technology maker - Mobileye for .3 billion-intelmobileyelogo2x1.jpg
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