Deals
Intel to Buy Mobileye for About $15 Billion in Car Tech Push
- Chipmaker trying to head off Qualcomm dominance in auto field
- Deal is second-biggest for Intel after Altera in 2015
Intel to Acquire Mobileye in $15 Billion Deal
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Intel Corp. will acquire Mobileye NV for about $15 billion, paying one of the highest takeover premiums this century to play catch-up in the market for technology that helps cars drive themselves.
The U.S. chipmaker will pay $63.54 per share in cash for Jerusalem-based Mobileye, which makes chips for cameras and driver-assistance features. The offer, the largest ever for an Israeli company, is a 34 percent premium to Mobileye’s closing price on Friday. The shares surged 29 percent to $61.10 at 12:45 p.m. in New York. Intel stock dipped 1.8 percent to $35.28.