Intel to buy Israeli self-driving car tech Mobileye for $15 billion
U.S. chip giant Intel has agreed to buy Israeli driverless technology firm Mobileye for $15.3 billion, the largest ever acquisition of an Israeli high-tech company.
“The transaction extends Intel’s strategy to invest in data-intensive market opportunities that build on the company’s strengths in computing and connectivity from the cloud, through the network, to the device,” the Monday press release read. With Mobileye, Intel gains the ability to offer automakers a larger package of all of the components they will need as vehicles become autonomous.
Originally published at SocialUnderground.