Intel Will Take Mobileye Public in 2022

Intel announced on Monday that Mobileye, a subsidiary in Israel that builds driver-assistance technology for major carmakers, will go public next year.

Intel will maintain majority ownership of Mobileye, the giant chip maker said, and the two companies will continue to collaborate on technologies for the automotive market. Mobileye’s executive team will remain in place after the initial public offering, with Amnon Shashua, one of the company’s founders, continuing as chief executive.

Intel acquired Mobileye in 2017 in a deal valued at $15.3 billion as part of a sweeping effort to expand into new markets. Founded in Jerusalem in 1999, Mobileye had become 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 the key component of Autopilot, the driver-assistance system that the electric carmaker Tesla introduced in 2015. The partnership ended in acrimony the next year, with Tesla beginning to build many of the same technologies on its own. But Mobileye continued to work with other carmakers, including Audi.

Article source: https://www.nytimes.com/2021/12/06/technology/intel-mobileye-ipo.html