Intel: confirms takeover of Mobileye.

(CercleFinance.com) - Announced by Isreali press, Intel has just confirmed its takeover of Mobileye.


The US semiconductor giant has announced that it has acquired the Israeli technology group for 14.1 billion dollars, at the bottom end of the range of 14 billion to 15 billion dollars, which was previously mentioned in the financial newspaper TheMarker.
 
Founded in 1999, Mobileye provides sensor systems for collision detection and has a market capitalisation of 10.5 billion dollars.

Intel will pay 63.54 dollars per Mobileye N.V., share, which means a premium of over 33% relative to Friday's closing prices. Intel's new entity dedicated to the autonomous car will also be installed in Israel and headed by Amnon Shashua, the group's chairman and founder.

Approved by both groups' boards, the transaction is expected to be finalised by the end of the year.

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