Intel to buy driverless technology company Mobileye for $15.3 billion
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.
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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