Intel buys Israeli Mobileye
Get to know the Israeli startup that Intel purchased for $15.3 billionIntel announced today that is has purchased the Israeli startup Mobileye for $15.3 billion, the largest business deal in Israeli high-tech history. Intel’s purchase of the Israeli company indicates that the American technology giant is interested in strengthening its hold in the self-driving car market.
Mobileye, the Israeli company that Intel bought for $15.3 billion today (Monday), develops and markets Advanced Driver Assistance Systems (ADAS) technology that relies on image processing. Intel’s purchase of the Israeli company indicates that the American technology giant is interested in strengthening its hold in the expanding self-driving car market.
Mobileye’s technology works with a camera equipped with a smart chip and sensors, which warns the driver of dangers ahead. This is how Mobileye’s system warns drivers of potential collisions, lane departures, pedestrians and any other obstacle in the way. The Israeli company described the system as a third eye that helps the driver avoid car accidents.
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Mobileye was co-founded in 1999 by Professor Amnon Shashua, who is currently the company’s chairman and chief technology officer. The company’s main offices are located in Jerusalem. The company works with car manufacturers mainly in Los Angeles, Detroit, Cyprus and Tokyo.
During a conversation with Israeli Prime Minister Benjamin Netanyahu, CEO and co-founder Ziv Aviram stated that the company’s headquarters will remain in Israel. In addition, Aviram said that the company will be responsible for all of Intel’s projects regarding the development of self-driving cars.
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