Intel has confirmed its plans to acquire Mobileye, a company that specializes in self-driving cars and has teamed up with the likes of Tesla and BMW in the past. The Israeli firm will be bought in a deal currently valued at $15.3 billion and will push Intel’s self-driving car efforts forward quite a bit.
Intel and Mobileye have a history of working together on autonomous vehicles. Intel is estimating that the vehicle systems, data and service market will hit around $70 billion by 2030.
Intel’s CEO, Brian Krzanich said that the acquisition of Mobileye will “bring together the assets of Intel’s Xeon processors, FPGAs, 3D XPoint memory and 5G modems with the world leader in automotive computer vision”. He also described the move as merging the “intelligent eyes of the autonomous car with the intelligent brain that actually drives the car”.
The Mobileye team will form a new organization under Intel’s Automated Driving Group, with a HQ based in Israel. All og Mobileye current contracts with automotive OEMs will be retained under this new company.
