Intel Closes $15.3 Billion Mobileye Deal
Intel concluded the first stage in the acquisition of Israel-based Mobileye, world's largest supplier of automotive collision detection systems
Intel secured 84% of Mobileye’s shares, as part of the $15.3 billion deal announced March, the chip-manufacturer announced Tuesday. The company extended its offer to buy out remaining shareholders, as Mobileye plans to delist its ordinary shares from the New York Stock Exchange.
The deal will positions Intel as a tier-one competitor in the global autonomous driving chip market, pitting the company against chipmakers such as Nvidia and Qualcomm, the latter now seeking to acquire NXP semiconductor, an auto chips maker.
Ziv Aviram, Mobileye's co-founder, president, and CEO, will retire from the company.