Due to the move towards self driving cars, the value of driver assistance solutions has increased. Mobileye, who currently has an estimated marketshare of 70%, is to be acquired by Intel for over $15b.
This deal is the largest acquisition of an Israeli company, and shows that the big tech companies are seeing the value of this move to autonomous cars.
U.S. chip giant Intel (INTC.O) has agreed to buy Israeli driverless technology firm Mobileye (MBLY.N) for $15.3 billion, the largest ever acquisition of an Israeli high-tech company. The $63.54 per share cash deal is the world's biggest purchase of a company solely focused on the autonomous driving sector. Mobileye accounts for 70 percent of the global market for advanced driver-assistance and anti-collision systems.