Intel is spending $15.3 billion to acquire the company behind Tesla’s early self-driving tech

[Guest Zach Epstein]

Intel on Monday morning confirmed earlier reports that it will acquire Jerusalem-based self-driving technology company Mobileye for $63.54 a share, or $15.3 billion in total. The deal follows successful work the two companies have done on BMW's iNext self-driving platform, which is expected to appear in production vehicles as soon as 2021, just four years from now. Of course, Intel and Mobileeye have their sights set much higher than just on the work they're doing with BMW. The companies are looking to build a scalable architecture that will become an industry standard, powering safe and feature-rich autonomous driving systems in cars and trucks from a wide range of auto makers. By combining forces in this multi-billion deal, the duo will seemingly be better positioned to realize this ambitious vision.

 

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