Intel (www.intel.com) has announced a $15.3 billion acquisition of Israeli automotive technology company Mobileye N.V. The $63.54-per-share deal will bring Mobileye’s leadership in the development of computer vision and machine to Intel.
The deal is expected to close within the next nine months, Intel said. Shares of Mobileye jumped nearly 32% on the news.
Intel says self-driving cars will represent a $70 billion market by the year 2030. Each self-driving car on the road will generate 4 terabytes of data per hour by the year 2020, the company estimates.
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