March 15, 2017 1:51 pm | Updated 3 years ago.
Intel Corporation recently announced that they have reached an agreement to buy the Israel-based automotive vision technology maker used for Advanced Driver Assistance Systems (ADAS) and fully autonomous vehicles, Mobileye. The $15.3 billion acquisition by the American multinational corporation Intel will set them as the largest provider of autonomous vehicle chip and machine-vision technology for the ADAS industry.
Intel CEO Brian Krzanich has said during a conference call today that, “Intel provides critical foundational technologies for autonomous driving, including plotting the car’s path and making real-time driving decisions. Mobileye brings the industry’s best automotive-grade computer vision and strong momentum with automakers and suppliers. 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 is a Tier 2 automotive supplier which works with almost all the major Tier 1 suppliers works as a relatively small company with close to 600 employees. Intel by far has invested into first ADAS Technology Company but earlier in January, the chip maker also announced about the decision to buy 15% stake in Netherlands-based Company HERE.
Date of Publication: March 13, 2017