Intel Acquiring Mobileye For Autonomous Driving Technology
- Author: Kyle Warner Mar 14, 2017,
Mar 14, 2017, 0:39
On Monday's call, Amnon Shashua, a co-founder of Mobileye and its current CTO, said that his company would work with Intel to take advantage of the chip maker's capabilities in the data center, and through that relationship develop better middleware and software for the autonomous auto market.
Along with connectivity, computer vision and machine learning, the companies also will combine sensor fusion and high-performance computing capabilities for mapping and location services. It then teamed up with Intel to work on BMW's iNext self-driving platform. The total value of the deal is now estimated at $15.3 billion.
Both companies have confirmed that the acquisition is going through and that the price has been set at $15.3 billion.
Intel Corp.is the latest company racing to shape the future of autonomous transportation, joining traditional vehicle makers, parts manufacturers and technology companies.
Over the last two years, Intel styled itself like many other chip supplier as a growing force in self-driving cars. Intel will spend just over $15bn to buy the Israeli company.
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The company's largest-ever deal, the $16.7 billion acquisition of programmable chipmaker Altera, has so far failed to meet its objective of helping to offset the continued decline in Intel's larger PC business.
According to the agreement, a subsidiary of Intel will offer to acquire all of the issued and outstanding ordinary shares of Mobileye.
Intel will also move its entire automotive unit to Israel, where it will be headed by Prof. Mobileye's Shashua criticized Tesla for "pushing the envelope in terms of safety", and reports said the tech firm grew uncomfortable with the automaker's contradictory messages about Autopilot, particularly in the wake of a fatal Model S crash in Florida.
Its software and chips "perform detailed interpretations of the visual field in order to anticipate possible collisions with other vehicles, pedestrians, cyclists, animals, debris and other obstacles", states Mobileye. Krzanich said, "Together, we can accelerate the future of autonomous driving with improved performance in a cloud-to-car solution at a lower cost for automakers". Mobileye also has deals with other vehicle companies including Audi.
Mobileye, with 660 employees, has been forming partnerships worldwide as its growth continued as a separate company.