After announcing a partnership last July 2016, Intel Corporation saw enough from Mobileye N.V. to purchase the latte for some US$ 15.3 billion in order to accelerate its technology to help automakers speed up the development of autonomous vehicles.
The move puts Intel in the right position to capture a fast-growing market opportunity in the automotive industry that it estimated to be worth US$ 70 billion by 2030.
Mobileye is a global leader in the development of computer vision and machine learning, data analysis, localization and mapping for Advanced Driver Assistance Systems and autonomous driving.
The EyeQ® chips developed by Mobileye perform detailed interpretations of the visual field in order to anticipate possible collisions with other vehicles, pedestrians, cyclists, animals, debris and other obstacles. It is also able to detect roadway markings such as lanes, road boundaries, barriers and similar items; identify and read traffic signs, directional signs and traffic lights.
This transaction complements Intel’s strength in computing and connectivity from the cloud, through the network, to the device as autonomous vehicles are expected to generate aroun 4,000 gigabytes of data per day.
With the Mobileye purchase, Intel aims to provide solutions for automakers seeking the most advanced and cutting-edge technology to make self-driving vehicles a reality.
“This acquisition is a great step forward for our shareholders, the automotive industry and consumers. Intel provides critical foundational technologies for autonomous driving including plotting the car’s path and making real-time driving decisions. Mobileye brings the industry’s best automotive-grade computer vision and strong momentum with automakers and suppliers. Together, we can accelerate the future of autonomous driving with improved performance in a cloud-to-car solution at a lower cost for automakers,” said Brian Krzanich, Intel CEO.
“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. By pooling together our infrastructure and resources, we can enhance and accelerate our combined know-how in the areas of mapping, virtual driving, simulators, development tool chains, hardware, data centers and high-performance computing platforms. Together, we will provide an attractive value proposition for the automotive industry,” said Mr. Ziv Aviram, Mobileye Co-Founder, president and CEO.