Intel looks at buying Mobileye for $14-$15 billion


As per a report released in The Marker, an Israeli financial newspaper US Chip giant Intel will be purchasing Israeli innovation firm Mobileye for $14-$15 billion.

The organizations will declare the obtaining, the biggest ever for an Israeli cutting edge organization. The Marker gave an account of this on its site. Mobileye is a main provider of collision-avoidance car sensor systems.
Neither Intel nor Mobileye were reachable for input on this as of now. The two organizations are already teaming up with BMW on a venture to put a fleet of around 40 self-driving test vehicles on road in the second half of this year.

BMW had reported its association with the two firms in July, with the objective of building up the ability of acquainting completely self-governing vehicles in the market by 2021.

Established in 1999 with a mission to lessen vehicle injuries and fatalities, in 2014 Mobileye was listed on the New York Stock Exchange, where its market cap is $10.6 billion. Goldman Sachs had put $130 million in the organization in 2007.

Checkout Latest IT news at
Madhurima Goyal, From ITvoir News Desk