Intel purchases Israeli tech company Mobileye for $15 billion

Intel, the world’s largest producer of computer chips, has agreed to purchase Israeli company Mobileye for a reported $15 billion USD. If finalized, the deal would become the largest tech deal in the history of Israel.

Mobileye specializes in self-driving car technologies, and recently made news for a deal with BMW to use its technology.

The acquisition amounts to $63.54 per share, 33% more than its current listed price of $47. The deal is unlikely to face competition, as it allows current Mobileye chairman Amnon Shashua to remain in his position.

Intel said the deal would unite the “eyes of the autonomous car with the intelligent brain that actually drives the car”

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