U.S. tech firm Intel Corp. officially completed its acquisition of Israeli automotive tech firm, Mobileye with the hopes of utilizing the skills of both firms to create technologically advanced self-driving cars!
Intel plans to capitalize on Mobileye’s computer vision expertise, data analysis and its developments in autonomous driving, and incorporating these competitive advantages with Intel’s “high-performance computing and connectivity expertise” to create over 100 self-driving test vehicles by the end of the year.
Intel is not the first company to embark on this innovative development, however, Intel’s current goal of creating autonomous vehicle technology that can be utilized anywhere demonstrates its unique desire to create an innovative technology that is adaptable to any car model and brand. Ammon Shashua, soon-to-be senior VP of Intel and future CEO/CTO of Mobileye explains, “We want to enable automakers to deliver driverless cars faster while reducing costs – data we collect will save our customers significant costs.”
Overall, this acquisition is a great example of how U.S. and Israeli tech firms can collaborate their areas of expertise to develop diverse and accessible versions of innovative technologies that are more favorable to consumers.
Sources:
Intel completes acquisition of Mobileye shares in tender: http://www.timesofisrael.com/intel-completes-acquisition-of-mobileye-shares-in-tender/
Intel Kick-Starts Mobileye Integration with Plans to Build Fleet of 100 L4 Autonomous Test Cars & Shashua quote
(Press Release) https://newsroom.intel.com/news/intel-mobileye-integration-plans-build-fleet-autonomous-test-cars/
Intel readies first self-driving cars after buying Israeli firm: http://www.timesofisrael.com/intel-readies-first-self-driving-cars-after-buying-israeli-firm/
Intel Completes Tender Offer for Mobileye & 1st Quote source (Press Release): https://newsroom.intel.com/news-releases/intel-mobileye-acquisition/