Intel Acquiring Mobileye For More Than $15B In Major Move Into Automated Driving

Brian Krzanich, CEO of Intel, Harald Krueger, CEO of German car maker BMW and Amnon Shashua, co-founder, chairman and CTO Mobileye NV, pose after a press conference in Munich on July 1, 2016. As the automotive industry races to commercialize automated driving by the turn of the decade, the number of real power players in the space is rapidly consolidating. The latest move is Intel's acquisition of Israeli machine vision leader Mobileye for $15.3 billion. If completed, the deal may finally put Intel in a strong position in a new market after it has struggled in recent years to break into new new territory beyond its deteriorating stronghold in PC chips. Founded 1999, Mobileye is the undisputed global market leader for the image processing systems that are increasingly becoming standard equipment on new vehicles and will be essential to making self-driving vehicles work.