Intel agrees to buy Israel's Mobileye for 15.3 billion USD

U.S. microprocessor giant Intel says that it has agreed to buy Mobileye, an Israeli developer of driverless technologies, for 15.3 billion U.S. dollars. [Photo: 163.com]

Intel has announced the purchase of Mobileye, an Israeli developer of driverless technologies.

The deal is worth 15.3 billion U.S. dollars.

Jerusalem-based Mobileye makes-up around two-thirds of the global market of advanced driver assistance systems.

Intel anticipates concluding the deal within the next few months.

The U.S.-based chip giant said it hopes the move will create a car combining Intel's cloud technology and Mobileye's autonomous driving systems.