Intel to acquire Mobileye for $15.3 Billion in Connected Car deal

Intel has announced it is to acquire autonomous driving systems provider Mobileye for $15.3 Billion as it aims for market leadership in the connected car space.

“The acquisition will couple the best in class technologies from both companies, including Intel’s high performance computing and connectivity expertise and Mobileye’s leading computer vision expertise to create automated driving solutions from the cloud through the network to the car,” a statement from Intel read.

“The combination is expected to accelerate innovation for the automotive industry and position Intel as a leading technology provider in the fast-growing market for highly and fully autonomous vehicles,” the company added.

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