Intel has agreed to acquire Israeli automotive supplier Mobileye for $63.54 per share in cash or $14.7 billion, the companies announced on Monday.
Mobileye develops cameras and sensors that serve as the eyes of many self-driving car systems. Intel, which missed the transition to mobile, gains what could become a significant supplier to the emerging self-driving car business.
What’s US$15b when you could potentially be the chip and hardware manufacturer behind every autonomous car that rolls off the production line. Sounds like a smart move to me.