Intel deal could value Israeli unit at more than $50 billion

JNS
Intel to make Israeli self-driving car unit Mobileye public in US
December 8, 2021

Chip-maker giant Intel is set to take Mobileye, its Israeli self-driving car unit, public in the United States next year, Reuters reported on Monday. The deal would reportedly value Mobileye at more than $50 billion. Intel is the largest employer in Israel’s high-tech sector, with 14,000 employees, and it will likely retain Mobileye’s executive team and keep its majority ownership after the initial public offering of Mobileye stock, according to the report. In 2017, Intel purchased Israeli self-driving car-maker Mobileye for $15.3 billion. The move reportedly put it in direct competition with its rivals, Nvidia and Qualcomm, in developing driverless systems for automakers. READ MORE

This entry was posted in Israel & Middle East and tagged , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.