Intel to acquire Israeli tech firm Mobileye for $14.7 billion - www.jewishaz.com: Business

Intel to acquire Israeli tech firm Mobileye for $14.7 billion

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Posted: Tuesday, March 14, 2017 1:01 pm

JERUSALEM — The U.S. chipmaker Intel will pay $14.7 billion to acquire the driverless technology firm Mobileye in what reportedly is the largest-ever purchase of an Israeli high-tech company.

In a joint announcement on March 13, the companies said the combination “is expected to accelerate innovation for the automotive industry and position Intel as a leading technology provider in the fast-growing market for highly and fully autonomous vehicles.”

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