{"id":377946,"date":"2021-12-07T22:41:04","date_gmt":"2021-12-07T19:41:04","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/intel-says-plans-to-take-car-tech-unit-mobileye-public\/"},"modified":"2021-12-07T22:41:04","modified_gmt":"2021-12-07T19:41:04","slug":"intel-says-plans-to-take-car-tech-unit-mobileye-public","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/intel-says-plans-to-take-car-tech-unit-mobileye-public\/","title":{"rendered":"#Intel says plans to take car tech unit Mobileye public"},"content":{"rendered":"

“#Intel says plans to take car tech unit Mobileye public<\/strong>”<\/p>\n

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\n The Wall Street Journal, quoting sources familiar with the matter, said the Israeli firm could be valued at over 50 billion dollars should it go public.
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Semiconductor giant Intel said it plans to list shares in its car technology<\/a> arm Mobileye publicly in the United States in mid-2022, a move reports said could value the subsidiary at over 50 billion dollars.<\/p>\n

In a statement published late Monday, Intel specified that it would remain the majority shareholder and that the two companies would continue to work closely together.<\/p>\n

Mobileye’s executive team will also remain in position, it added.<\/p>\n

The Wall Street Journal, quoting sources familiar with the matter, said the Israeli firm could be valued at over 50 billion dollars.<\/p>\n

“Intel’s acquisition of Mobileye has been a great success,” Intel CEO Pat Gelsinger said in a statement, adding that he and his Mobileye counterpart “determined that an IPO provides the best opportunity to build on Mobileye’s track record for innovation and unlock value for shareholders.”<\/p>\n

Mobileye, which makes technology for automated driving systems in vehicles, was acquired by Intel in 2017 for just over 15 billion dollars.<\/p>\n

Its speciality includes systems for accident avoidance, using real-time camera systems that work with algorithms to interpret the data.<\/p>\n

The firm’s proprietary EyeQ5 computer vision processor receives input from 360-degree surround view sensors as well as localisation.<\/p>\n

Mobileye collaborated with electronic car giant Tesla for its Autopilot system, but put an end to that partnership in 2016, citing security concerns. <\/p>\n

It supplies its technology to many major automakers, including BMW, Audi, Volkswagen, Nissan, Honda and General<\/a> Motors. <\/p>\n

Before Intel’s takeover, Mobileye was publicly listed for the first time in 2014.<\/p>\n

Its revenue between July and September was 326 million dollars, a 39 percent increase on 2020. <\/p>\n

Intel’s shares rose 8.5 percent, to $55.34, in pre-market trading.\n <\/p>\n\n

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Intel announces Israel expansion government values at $10 bn<\/a>\n <\/div>\n

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\n \u00a9 2021 AFP<\/p>\n

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Citation<\/strong>:
\n Intel says plans to take car tech unit Mobileye public (2021, December 7)
\n retrieved 7 December 2021
\n from https:\/\/techxplore.com\/news<\/a>\/2021-12-intel-car-tech-mobileye.html<\/p>\n

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