Intel to buy Mobileye for $15 billion in largest purchase of Israeli tech

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US giant Intel Corp. said Monday that it has agreed to buy Mobileye, a Jerusalem-based developer of advanced vision and driver assistance systems, for $15.3 billion in a move the American chipmaker hopes will position it as a leading technology player in the fast-growing self-driving car market.

Mobileye develops the sensors and artificial intelligence that allow a vehicle’s on-board computer to essentially know where it is in relation to other vehicles, pedestrians and the surroundings, the key technologies needed for cars to eventually safely drive themselves.

The deal, the largest ever purchase of an Israeli high-tech company, was hailed across Israel as a sign of the country’s technological prowess.

Read more: Times Of Israel

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