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Acquisition   $63.54 per share cash deal

Intel to buy driverless technology company Mobileye for $15.3 billion

MobileyeIntel has agreed to buy Israeli driverless technology firm Mobileye for $15.3 billion, the largest ever acquisition of an Israeli high-tech company.

The $63.54 per share cash deal is the world's biggest purchase of a company solely focused on the autonomous driving sector. Mobileye accounts for 70 percent of the global market for advanced driver-assistance and anti-collision systems.

READ MORE Fleet of 40 autonomous BMW vehicles on roads this year

Intel said it expected the transaction to close within the next nine months and to immediately boost its non-GAAP earnings per share as well as its free cash flow.

The two companies are already collaborating with BMW on a project to put a fleet of around 40 self-driving test vehicles on the road in the second half of this year.




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