Intel is buying the Israeli autonomous-driving company Mobileye for $63.54 per share in cash, or about $15.3 billion. Mobileye soared about 30% in pre-market trading on Monday after the Israeli newspaper Haaretz broke the news. The Jerusalem-based company develops vision-based driver-assistance tools to provide warnings before collisions. "Mobileye brings the industry's best automotive-grade computer vision and strong momentum with automakers and suppliers," Intel CEO Brian Krzanich said in a statement. "Together, we can accelerate the future of autonomous driving with improved performance in a cloud-to-car solution at a lower cost for automakers."
Mar-13-2017, 12:15:20 GMT