Intel announced Monday that Mobileye, a subsidiary in Israel that builds driver assistance technologies for major automakers, will go public next year.
Intel will retain majority stake in Mobileye, the chipmaker giant said, and the two companies will continue to collaborate on technologies for the automotive market. Mobileyes’ management team will remain in place after the initial public offering, with Amnon Shashua, one of the founders of the company, remaining Managing Director.
Intel acquired Mobileye in 2017 in a deal valued at $ 15.3 billion as part of a broad effort to expand into new markets. Founded in Jerusalem in 1999, Mobileye had grown to become a major supplier of technology, including cameras, computer chips, and software that could help provide cars with automatic braking and lane keeping functions.
The company’s camera system was a key component of Autopilot, the driver assistance system that electric car maker Tesla introduced in 2015. The partnership ended in acrimony the following year. , Tesla starting to develop many of the same technologies on its own. But Mobileye continued to work with other automakers, including Audi.
Like Tesla, Mobileye has promoted its technologies as a path to autonomous vehicles. This year, the company announced that it test various prototypes of self-driving cars in big cities, including New York. But most experts believe such vehicles are years, if not decades, of widespread use.
Mobileyes’ business continues to focus on providing camera-based systems for automatic braking, lane keeping and other driver assistance technologies. But the company said it is expanding into other types of automotive sensors, including radar and lidar sensing and ranging devices that measure distances using laser pulses and are a crucial part of most. autonomous car projects.
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