It has been approved by the Intel and Mobileye Boards of Directors and is subject to the receipt of certain regulatory approvals and other closing conditions. Intel and Mobileye’s technology is to be tested on roads in the US and Europe. As is the case with so many things, there was some give-and-take at work in Intel's Mobileye buyout. Mobileye will integrate Intel's autonomous driving unit as the two companies aim to crunch the data provided by various sensors. Both chip makers have been investing in vehicles, and Intel appears to be paying a premium to catch up and push forward with its autonomous vehicle plans. Intel’s acquisition of Mobileye was officially confirmed this morning, and it …
The transaction extends Intel’s strategy to invest in data-intensive market opportunities that build on the company’s strengths in computing and connectivity from the cloud, through the network, to the device.On March 27, 2018, the Enterprise Chamber (Ondernemingskamer) of the Amsterdam Court of Appeals (Gerechtshof Amsterdam) rendered a final judgment in the statutory compulsory acquisition proceeding (uitkoopprocedure) for all remaining outstanding Mobileye shares (as further described below). Cyclops Holdings, LLC (“Cyclops”), a wholly owned subsidiary of Intel, has accepted for payment all shares that were validly tendered and were not properly withdrawn from the offer, and payment for such shares will be made promptly in accordance with the terms of the offer.Mobileye has submitted written notice to the NYSE of its intent to voluntarily delist its shares from the NYSE in connection with the tender offer. Intel said in a statement on Monday that the acquisition of Moovit will bring Mobileye “closer to achieving its plan to become a complete mobility provider, including robotaxi services, which is forecast to be an estimated $160 billion opportunity by 2030.” The addition of Moovit brings Intel’s Mobileye closer to achieving its plan to become a complete mobility provider, including robotaxi services, which is forecast to be an estimated $160 billion opportunity by 2030. Creating a Global Leader in Autonomous Driving Automated driving up to $70B system, data, and services TAM by 2030 Combines Mobileye’s best-in-class computer vision with Intel’s computing, data center, AI, and connectivity expertise Intel Acquisition of Mobileye March 13, 2017.
Former Mobileye shareholders who have not yet received payment for their shares should contact the bank or broker through which they held shares for instructions on how to seek payment. The tender offer (including the subsequent offering period) expired on August 21, 2017, at which time Intel had acquired approximately 97.3% of the outstanding ordinary shares of Mobileye.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. Under the terms of the agreement, Cyclops Holdings, LLC, a subsidiary of Intel commenced a tender offer to acquire all of the issued and outstanding ordinary shares of Mobileye for $63.54 per share in cash, representing a fully-diluted equity value of approximately $15.3 billion and an enterprise value of $14.7 billion. Intel, the Intel logo and other Intel marks are trademarks of Intel Corporation or its subsidiaries. Creating a Global Leader in Autonomous Driving Automated driving up to $70B system, data, and services TAM by 2030 Combines Mobileye’s best-in-class computer vision with Intel’s computing, data center, AI, and connectivity expertise
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