Intel Corp. will spend $15.3 billion to buy up a fast-growing company that makes self-driving car systems.
The deal, which values Jerusalem-based Mobileye (NYSE: MBLY) at $63.54 per share, is expected to close within the next nine months, Intel said. Shares of Mobileye jumped nearly 32 percent on the news.
Mobileye makes a camera-based driving assistance system that’s designed to continually scan what’s around it, identify road markers, road signs, other cars and pedestrians.
Read more at the Denver Business Journal: http://bit.ly/2mCgyPK