Intel buys Mobileye for £12.5bn

US chipmaker Intel is taking over specialist and world leader in collision avoidance systems, Mobileye for $15.3bn ( £12.5bn). Mobileye, Jerusalem-based, Israeli company which develops “autonomous driving” systems.  The deal is the biggest ever exit in the history of Israeli industry. Intel said that the acquisition will bring out the best-in-class technologies from both companies, spanning connectivity, computer vision, sensor fusion, mapping, artificial intelligence and  transform the automotive industry by delivering state-of-the-art driving solutions

Over 4,500 hire vehicles in New York are equipped with Mobileye3

Mobileye and Intel are already working together with BMW to put 40 test vehicles on the road in the second half of this year.

Mobileye founded by Amnon Shashua, in 1999 to develop “vision-based” systems to improve on-road safety and reduce collisions. Mobileye last year tripled their revenue to $358m, and pre-tax profit leapt from $79.7m to $125.4m.

Intel expects the driverless market to be worth $70bn by 2030, as the driverless cars will generate 4000GB or 4 terabytes of data a day that can be mined for information.

Nissan test drove a converted leaf vehicle earlier this month and it hoped to make the driverless car by 2020.