Mobileye Caps Wild Ride On Stock Market With $15.3 Billion Acquisition

Less than three years after its blockbuster IPO, Israeli company Mobileye has ridden the wave of self-driving car enthusiasm to a timely acquisition. Intel said on Monday that it would shell out $15.3 billion for Mobileye, which makes assisted driving software, in the biggest acquisition ever of an Israeli technology company. Intel will pay $63.54 per share in cash, which represents a 36% premium over Friday's closing price of $46.88. Shares of Mobileye surged 30% to $61.48 in morning trading, while shares of Intel slid 2%. The deal marks a happy end to Mobileye's short stint on the public markets.