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Intel Buys Mobileye for $15.3 Billion

Intel Buys Mobileye for $15.3 Billion

Intel is pushing the self-driving car trend by purchasing Mobileye for $15.3 billion. These two companies worked in the past to develop self-driving cars for BMW. The BMW iNext project is expected to be ready by 2021. BMW expects to test 40 self-driving vehicles in the United States and Europe this year.

The partnership between Intel and Mobileye has its benefits. Here’s a statement from both companies:

The combination is expected to accelerate innovation for the automotive industry and position Intel as a leading technology provider in the fast-growing market for highly and fully autonomous vehicles. Intel estimates the vehicle systems, data and services market opportunity to be up to $70 billion by 2030.

Mobileye partnered with Delphi to develop autonomous driving systems by 2019. They also partnered with Volkswagen to develop road data technology.

Mobileye’s specialty is accident avoidance. Their EyeQ5 computer vision processor interprets 360-degree data and location information.

Mobileye is an Israeli firm established in 1999. It has 660 employees. Here’s the co-founder’s views on the future of autonomous vehicles:

We expect the growth towards autonomous driving to be transformative. It will provide consumers with safer, more flexible, and less costly transportation options, and provide incremental business model opportunities for our automaker customers.

-Ziv Aviram

Intel expects each autonomous car to generate 4,000 GB of data per day.

Source: Seeker

Intel Buys Mobileye for $15.3 Billion
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