Computer chip maker Intel is continuing to expand its horizons with its recent acquisition of Israeli computer vision company, Mobileye. The deal was worth $15.3 billion USD.
Mobileye was founded in 1999 and develops the technological brains behind vehicle driving assistance systems such as cruise control, lane departure warnings, and distance keeping. Major automobile manufacturers such as BMW, Volvo, Buick, and Cadillac already use Mobileye’s technology. Just this past July, BMW, Intel, and Mobileye announced plans to begin producing self-driving cars by 2021. In fact, the trio has committed to putting 40 test cars on public roads later this year.
Intel has been pretty straightforward with its desire to break into the autonomous car game. It makes sense, being that autonomous vehicles take a lot of computing power to operate.
“This acquisition is a great step forward for our shareholders, the automotive industry, and consumers,” said Intel CEO Brian Krzanich. “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.”