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Hailing 'Israeli genius,' PM congratulates Mobileye on Intel deal

Hailing 'Israeli genius,' PM congratulates Mobileye on Intel deal

Together, those technologies are key to building autonomous cars and developing highly automated driving functions.

Both Intel and Mobileye are already collaborating with BMW on a project which will see a fleet of 40 self-driving vehicles tested on the roads towards the end of this year. The Israeli company now utilizes STM chips for the products it provides auto manufacturers with. Intel and Mobileye have both participated in a couple of self-driving partnerships for most of the previous year, and the companies have discovered that they work well together. Amid safety concerns about Tesla's Autopilot technology, the two companies engaged in public finger-pointing.

Prime Minister Benjamin Netanyahu of Israel called Mobileye CEO Ziv Aviram to congratulate him, calling the deal in a tweet a source of "Israeli pride".

The technology that Intel and MobilEye are working on won't just be limited to BMW cars, though.

Mobileye, based in Jerusalem, was founded in 1999 by Prof. Mobileye works with 27 automakers and has partnerships with the vast majority of automotive suppliers. That market, including systems, data and services, could be worth as much as $70 billion by 2030, according to Intel.

Intel said the transaction, which is expected to close in the next nine months, should be accretive to its adjusted earnings per share and free cash flow immediately.

49ers to release Torrey Smith
On Monday, he reported the San Francisco 49ers had released veteran wideout Torrey Smith , even citing a source in his tweet. He played collegiate football at the University of Maryland and was drafted by the Baltimore Ravens in the 2011 NFL Draft.

The deal comes after Mobileye partnered with self-driving technology company Delphi Automotive in August 2016.

There are also some cloud software applications as well as data management systems particular to the automotive industry which will now fall into Intel's hands.

The acquisition of Mobileye brings together the assets of Intel's Xeon processors, FPGAs, 3D XPoint memory, and 5G modems with the world leader in automotive computer vision. It is said that the deal is made "in an effort to boost the chipmaker's position in the autonomous auto market".

Over the last two years, Intel styled itself like many other chip supplier as a growing force in self-driving cars.

Prime Minister Benjamin Netanyahu spoke by phone with Aviram to congratulate him, a statement from the premier's office said.


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