Intel acquires Mobileye for $15.3 billon
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Money keeps pouring in from companies trying to perfect the self-driving car. Like, a ton of money. The latest eye-popping transaction: Intel announced Monday that it was buying Israeli company Mobileye for $15.3 billion . Mobileye's systems, which are used by 27 carmakers, depend on specialized cameras to sense a car's surroundings on the road. It's the tech behind the emergency braking and lane assistance systems that are becoming more common in new vehicles. The acquisition shouldn't come as a huge surprise, since the two companies have been working together with BMW since last year to create a fully autonomous car by 2021. The first test vehicles for that project, iNext, are slated to hit the streets as part of a pilot program in the second half of this year. Intel's big acquisition shows that it won't be content simply providing chips for self-driving systems. While $15.3 billion is a massive investment, Intel believes the self-driving vehicle market could climb to $70 billion by 2030 Intel CEO Brian Krzanich made the company's intentions clear when announcing the acquisition. He touted the potential of combining Intel's processing power and Mobileye's advanced automotive computer vision systems, as well as its ties to automakers. "Together, we can accelerate the future of autonomous driving with improved performance in a cloud-to-car solution at a lower cost for...
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