Intel announced it will acquire Mobileye, a maker of collision-avoidance technology, for $15.3 billion.
Under the terms of the agreement, which propels Intel’s mission of becoming a leader in Cloud-to-device providers, Intel will acquire Mobileye shares for $63.54 per share in cash.
Intel said in a statement that it estimates the vehicle systems, data and services market to reach $70 billion by 2030. Mobileye has previously sold its technology through retailers as well as partnered with automakers for inclusion.
