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Elham AbolFateh

Science & Technology

US Intel agreed to buy Israeli Mobieleye

Monday 13/March/2017 - 01:26 PM
Sada El Balad
U.S. chip giant Intel (INTC.O) has agreed to buy Israeli technology firm Mobileye (MBLY.N) for $14-$15 billion، according to TheMarker، an Israeli financial newspaper.
The companies will announce the acquisition، the largest ever for an Israeli high-tech company، later on Monday، TheMarker reported on its website. Mobileye is a leading supplier of collision-avoidance car sensor systems.
Neither Intel nor Mobileye were immediately reachable for comment.
The two companies are already collaborating with BMW on a project to put a fleet of around 40 self-driving test vehicles on the road in the second half of this year.
BMW announced its partnership with the two firms in July، with the goal of developing the capability of introducing fully autonomous vehicles to the market by 2021.
Edited by: Nehal Madgy

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