The well-known technology company has had a rather late start to the world of autonomous and connected autos, but it’s making up for the time lost by directly gaining access to one of the leading companies in the segment.
Intel has decided to acquire its autonomous technology partner Mobileye for approximately $15.3 billion – thus making the technology giant one of the leading autonomous technology suppliers. The companies are now expecting to complete the deal in about nine months, pending regulatory approval. Mobileye is a specialist in autonomous vehicle technology, including computer vision, machine learning, mapping, and data analysis. It will now join Intel’s Automated Driving Group, and search for opportunities to deliver the technology to automakers. The newly enhanced division will be headquartered in Israel and get guidance from Mobileye’s Co-Founder Professor Amnon Shashua.
“Mobileye brings the industry’s best automotive-grade computer vision and strong momentum with automakers and suppliers. Together, we can accelerate the future of autonomous driving with improved performance in a cloud-to-car solution at a lower cost for automakers,” commented Intel CEO Brian Krzanich. The company thinks uture autonomous vehicles could generate 4,000 gigabytes of data per day, and Intel’s computing tech could be the managing solution. The company adds that vehicle systems, data, and services could be worth $70 billion by 2030.