Intel Will Take Mobileye Public in 2022

Intel Will Take Mobileye Public in 2022
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Intel Will Take Mobileye Public in 2022

Intel Will Take Mobileye Public in 2022

Intel announced Monday that Mobile, an Israeli subsidiary that produces driver-assisted technology for major car makers, will go public next year.

Intel will retain a majority stake in Mobile, the giant chip maker said, and the two companies will continue to collaborate on technology for the automotive market. While one of the company’s founders, Amnon Shashua, is the chief executive, Mobileye’s executive team will remain after the initial public offering.

Intel bought Mobileye in a 15.3 billion deal in 2017 as part of a broader effort to expand into new markets. Founded in Jerusalem in 1999, Mobileye became a major supplier of technology – including cameras, computer chips and software – that could help provide cars with automatic braking and lane-keeping features.

The company’s camera system was a key component of the autopilot, a driver-assistance system introduced in 2015 by electric car maker Tesla. The following year, the partnership came to an abrupt end, with Tesla launching several technologies similar to its own. But Mobile continued to work with other carmakers, including Audi.

Like Tesla, Mobileye has promoted their technology as a way of autonomous vehicles. This year, the company announced that it was testing various self-driving car prototypes in major cities, including New York. But most experts believe that such vehicles have been out of widespread use for many years – and perhaps decades -.

Mobileye’s business is still focused on providing camera-based systems for automatic braking, lane-keeping and other technology that aids drivers. But the company says it is expanding into other types of automobile sensors, including radar and lidar – “light detection and ranging” devices that measure distances using laser pulse and are an important part of most self-driving car projects.

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