<p align="justify">US chipmaker Intel on Monday announced its decision to buy Israeli driverless technology firm Mobileye for $15.3 billion.<br /><br />In a filing to the US Securities and Exchange Commission, Intel stated, “Under the terms of the agreement, a subsidiary of Intel will commence a tender offer to acquire all of the issued and outstanding ordinary shares of Mobileye for $63.54 per share in cash, representing a fully-diluted equity value of approximately $15.3 billion and an enterprise value of $14.7 billion.”<br /><br />Tech analysts predict that it will be the biggest technology takeover in Israel’s history and the largest acquisition dedicated for self-driving sector.<br /><br />While the transaction is expected to close within the next nine months, the price given by Intel for the buyout represents a premium of around 33% to Mobileye’s Friday closing price of $47 a share.<br /><br />Mobileye was founded in 1999 by Ziv Aviram along with Prof Amnon Shashua of the Hebrew University of Jerusalem. The company made its name known to automotive OEMs for inventing a technology to alert drivers to obstacles.<br /><br />The Israeli company went public on the New York Stock Exchange in 2014, raising $890 million in the largest Israeli IPO in the US. Intel stated that Mobileye’s CTO and Co-founder, Prof Shashua, will lead Intel’s autonomous driving division, which will be based in Israel. Doug Davis, Intel’s SVP, will oversee how Mobileye and Intel work together across the whole company.<br /><br />Aviram made it clear that autonomous cars are not a dream anymore and laid out a roadmap for its rollout. “It’s not a matter of if... It’s matter of when,” he said. The first of three phases, Aviram said, was the advent of semi-autonomous driving, which is already available in some cars today, including Tesla’s Model S.<br /><br />By 2018, the next phase, called automated driving, will be available. By 2021, Aviram said, he anticipates fully autonomous cars will hit the road.</p>.<p align="justify"><em>Zoomcar associates with Mobileye<br />Zoomcar CEO and Co-founder Greg Moran, in an interaction with DH, had revealed that it has begun to deploy Mobileye’s technology.<br /><br />“We are trying hard to get involved in deep technology initiatives. Our partnership with Mobileye will help us get into computer vision to make a more intelligent and predictable driving experience,” he said. Jon Medved, CEO of Jerusalem-based crowdfunding venture capital platform OurCrowd and also an investor in Zoomcar, said that it was he who took the company to Mobileye. </em></p>
<p align="justify">US chipmaker Intel on Monday announced its decision to buy Israeli driverless technology firm Mobileye for $15.3 billion.<br /><br />In a filing to the US Securities and Exchange Commission, Intel stated, “Under the terms of the agreement, a subsidiary of Intel will commence a tender offer to acquire all of the issued and outstanding ordinary shares of Mobileye for $63.54 per share in cash, representing a fully-diluted equity value of approximately $15.3 billion and an enterprise value of $14.7 billion.”<br /><br />Tech analysts predict that it will be the biggest technology takeover in Israel’s history and the largest acquisition dedicated for self-driving sector.<br /><br />While the transaction is expected to close within the next nine months, the price given by Intel for the buyout represents a premium of around 33% to Mobileye’s Friday closing price of $47 a share.<br /><br />Mobileye was founded in 1999 by Ziv Aviram along with Prof Amnon Shashua of the Hebrew University of Jerusalem. The company made its name known to automotive OEMs for inventing a technology to alert drivers to obstacles.<br /><br />The Israeli company went public on the New York Stock Exchange in 2014, raising $890 million in the largest Israeli IPO in the US. Intel stated that Mobileye’s CTO and Co-founder, Prof Shashua, will lead Intel’s autonomous driving division, which will be based in Israel. Doug Davis, Intel’s SVP, will oversee how Mobileye and Intel work together across the whole company.<br /><br />Aviram made it clear that autonomous cars are not a dream anymore and laid out a roadmap for its rollout. “It’s not a matter of if... It’s matter of when,” he said. The first of three phases, Aviram said, was the advent of semi-autonomous driving, which is already available in some cars today, including Tesla’s Model S.<br /><br />By 2018, the next phase, called automated driving, will be available. By 2021, Aviram said, he anticipates fully autonomous cars will hit the road.</p>.<p align="justify"><em>Zoomcar associates with Mobileye<br />Zoomcar CEO and Co-founder Greg Moran, in an interaction with DH, had revealed that it has begun to deploy Mobileye’s technology.<br /><br />“We are trying hard to get involved in deep technology initiatives. Our partnership with Mobileye will help us get into computer vision to make a more intelligent and predictable driving experience,” he said. Jon Medved, CEO of Jerusalem-based crowdfunding venture capital platform OurCrowd and also an investor in Zoomcar, said that it was he who took the company to Mobileye. </em></p>
