Clara, California. —
Intel will buy Israel's mobile Ye for just over $14 billion (U. S. )
This is the latest self-driving car launched by a large technology company, and it may change the way traffic is running around the world.
Mobileye has developed a technology that basically gives computers a sense of a physical environment and has been busy creating connections to get the technology on the road.
Last year, it worked with Delphi Motor Company to develop a fully autonomous car.
Read more: Delphi, the mobile Ye team built a high level for the auto platform
Custom def roadmap
Driving a car in 2016
Taxi-hailing company Uber Technologies and Volvo have signed a $0. 3 billion deal to provide SUVs for Volvo for research on driverless cars.
Uber rival Lyft Inc. has invested $0. 5 billion
Develop a fleet of autonomous electric taxis.
Google teamed up with Fiat Chrysler to develop driverless minivans. Volkswagen is working with Uber's rival Gett.
BMW, Intel and Mobileye also have a partnership, with Ford Investing $0. 15 billion in laser sensor maker Velodyne.
In the latest deal announced earlier Monday, Intelwill pay $63.
54 per share of Mobileye N. V. , a 34-per-
Its Friday closing price is at a premium of cents.
The companies valued the deal at about $15. 3 billion.
The combined global self-driving company, including mobile Ye and Intel's autonomous driving Group, will be based in Israel, led by the chairman and co-owner of mobile Ye
Founder Amnon Shashua.
The organization will support the existing production plans of the two companies and establish relationships with OEMs of the car
1 suppliers and semiconductor partners develop advanced driving assistance, highly autonomous and fully autonomous driving plans.
Intel CEO Brian Krzanich said in a press release issued by the company that by working together, the two companies will be able to "accelerate the future of autonomous driving by improving performance in the cloud --to-
Automakers get car solutions at a lower cost.
Both company boards have approved the deal with the goal of completing it within nine months.