Intel Agrees to Buy Israeli Tech Company Mobileye
Intel agrees to buy Israeli technology company Mobileye for $15.3 billion.
Intel (INTC) - Get Report agreed to buy Israeli technology company Mobileye (MBLY) for $15.3 billion. Under the terms of the deal, Intel will pay $63.54 for each Mobileye share, a 34% premium to Mobileye's closing price Friday of $47.27. The deal is expected to close within the next nine months.
Mobileye makes software for driverless cars. "We expect the growth towards autonomous driving to be transformative," said Mobileye CEO Ziv Aviram, in a press release Monday.
Read More:
Intel Revs Up Smart Car Competition With $15.3 Billion Purchase of Mobileye
Intel to Buy Mobileye for $15.3 Billion
This article was written by a staff member of TheStreet.
