Intel to buy Mobileye for up to $15 billion? (announcement expected soon)

Posted on Monday, March 13 2017 @ 11:25 CET by Thomas De Maesschalck

The big news of today concerns a rumor that Intel is going to buy Mobileye, an Israeli technology firm that makes advanced driver assistance systems (ADAS) as well as software and hardware for self-driving cars. The original Tesla Autopilot used Mobileye's technology, but Tesla's Autopilot 2.0 system uses hardware from NVIDIA.

The origin of the rumor is TheMarket, a leading Israeli financial newspaper. An announcement from Intel is expected later today and word on the street is this will be a transaction valued at $14 billion to $15 billion:

Chipmaker Intel has agreed to buy Israeli technology firm Mobileye for $14 billion to $15 billion dollars, according to TheMarker, one of Israel's leading financial newspapers.

The midway figure points to a premium of almost 40 percent versus Mobileye's closing market cap on Friday and shares are up 30.74 percent in pre-market trading.

About the Author

Thomas De Maesschalck

Thomas has been messing with computer since early childhood and firmly believes the Internet is the best thing since sliced bread. Enjoys playing with new tech, is fascinated by science, and passionate about financial markets. When not behind a computer, he can be found with running shoes on or lifting heavy weights in the weight room.

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