Close

Search

Search Menu
Photonics Media Photonics Marketplace Photonics Spectra BioPhotonics EuroPhotonics Vision Spectra Photonics Showcase Photonics ProdSpec Photonics Handbook

Intel Plans to Take Self-Driving Tech Company Mobileye Public

Facebook Twitter LinkedIn Email Comments
SANTA CLARA, Calif., Dec. 9, 2021 — Intel plans to take Mobileye public in the U.S. in mid-2022 via an initial public offering (IPO) of newly issued Mobileye stock. Intel will remain the majority owner of Mobileye, and the two companies will continue as strategic partners, collaborating on projects as they pursue the growth of computing in the automotive sector. According to Intel, making Mobileye an independent and publicly traded company will add value for Intel shareholders.

Intel acquired Mobileye in March 2017, three years after Mobileye completed its IPO.A self-driving vehicle from Mobileye’s autonomous fleet sits outside Mobileye’s autonomous vehicle workshop in Israel. Courtesy of Mobileye, an Intel Company.
A self-driving vehicle from Mobileye’s autonomous fleet outside the company’s autonomous vehicle workshop in Israel. Intel has announced its intent to make the company public. Courtesy of Mobileye, an Intel Co.

The Mobileye executive team will remain intact, with Amnon Shashua continuing as the company’s CEO. Urban mobility app Moovit, which Intel acquired in May 2020, as well as Intel teams working on lidar and radar development and other Mobileye projects, will be aligned as part of Mobileye.

Intel currently owns 100% of Mobileye shares and is expected to retain majority ownership following the completion of the IPO. Intel said it does not intend to spin out or otherwise divest its majority ownership interest.

Mobileye achieved record revenue year-over-year and is expected to deliver revenue figures that are more than 40% higher than 2020, Intel CEO Pat Gelsinger said.

A final decision on the IPO and its conditions and ultimate timing is pending and subject to market conditions. As majority shareholder, Intel will continue to fully consolidate Mobileye. The transaction is not expected to have an impact on Intel’s 2021 financial targets.

Photonics.com
Dec 2021
BusinessIntelMobileyepublicpublicly tradedstockownershipAutonomous drivingself-drivingsemiconductorsIPOshareSharesAmericasIsrael

Comments
Photonics Spectra Optics Conference 2022
LATEST HEADLINES
view all
PHOTONICS MARKETPLACE
Search more than 4000 manufacturers and suppliers of photonics products and services worldwide:

back to top
Facebook Twitter Instagram LinkedIn YouTube RSS
©2022 Photonics Media, 100 West St., Pittsfield, MA, 01201 USA, [email protected]

Photonics Media, Laurin Publishing
x We deliver – right to your inbox. Subscribe FREE to our newsletters.
We use cookies to improve user experience and analyze our website traffic as stated in our Privacy Policy. By using this website, you agree to the use of cookies unless you have disabled them.