Intel said it expects the vehicle systems, data and services market to rise to $70 billion by 2030.
Mobileye, founded in 1999, accounts for 70 percent of the global market for driver-assistance and anti-collision systems. It employs 660 people and had adjusted net income of $173.3 million last year.
Analysts said that mounting a counterbid would be difficult as Mobileye’s Shashua would remain in charge and the combined entity would be based in Israel.
Shashua and two other senior Mobileye executives stand to do well by the deal: together they own nearly 7 percent of the company. Shmuel Harlap, Israel’s biggest car importer and one of Mobileye’s earliest investors, also holds a 7 percent stake.
BATTLE FOR SELF-CONTROL
Mobileye and Intel are already collaborating with German automaker BMW <BMWG.DE> on a project to put a fleet of around 40 self-driving test vehicles on the road in the second half of this year.
At the same time, Mobileye has teamed up with Intel for its fifth-generation of chips that will be used in fully autonomous vehicles that are scheduled for delivery around 2021.
Originally posted 2017-03-13 15:25:35.
