On March 13, chip giant Intel and Israel's ADAS and autonomous driving company Mobileye jointly issued a statement that the two parties have signed a final acquisition agreement. According to the agreement, a subsidiary of Intel will acquire all issued common shares of Mobileye at a cash price of $ 63.54 per share, and Mobileye's share capital is worth $ 15.3 billion.
The statement pointed out that the acquisition will combine the best-in-class technologies of the two companies, including Intel's high-performance computing and connectivity technology and Mobileye's computer vision technology, to find solutions for autonomous driving technology.
"After this acquisition is completed, Intel will integrate its technologies such as Xeon processors, FPGAs, 3DXpoint memory and 5G modules with Mobileye's in-vehicle computer vision system," said Intel CEO Brian Krzanich. "This acquisition will allow the world to see that the car of the future will have both bright eyes and a smart brain."
Mobileye was founded in 1999 and currently has about 600 employees worldwide, dedicated to the research of computer vision algorithms and chip technologies for driver assistance systems in the automotive industry. Data show that Mobileye's revenue last year was 358 million US dollars and net income reached 107 million US dollars. As of 2016, Mobileye has cooperated with 27 automakers, and a total of 16 million vehicles worldwide have installed Eyeye chips from Mobileye. In the field of ADAS (Advanced Driver Assistance Systems), Mobileye has a market share of over 70%.
The statement also pointed out that the acquisition will be completed within nine months. At present, the boards of directors of the two companies have approved the agreement, and only the relevant regulatory authorities need to pass it.