Mobileye
Intel plans IPO for driver assistance subsidiary
A self-driving bus from Mobileye at the IAA auto show in September. Photo: Sven Hoppe / dpa
© dpa-infocom GmbH
After the takeover by Intel in 2017, Mobileye, an expert in driver assistance systems, has grown significantly. The US chipmaker is now planning the subsidiary’s IPO.
The semiconductor manufacturer Intel wants to bring its Israeli driver assistance subsidiary Mobileye to the stock exchange. The step is planned around the middle of 2022, as Intel announced on Monday evening (local time).
After the IPO, Intel wants to remain majority owner of the developer of technologies for autonomous driving. Intel acquired Mobileye in 2017 for around 15 billion (currently around 13.3 billion euros) US dollars, and the Israeli subsidiary has grown vigorously since then. For the current year alone, Mobileye expects a 40 percent increase in sales.
The world’s largest chip manufacturer Intel recently lost market share in important segments. In addition, the business with notebook chips declined due to the corona, as Intel customers had to cut production. Like other corporations in the industry, Intel is currently investing to expand chip manufacturing capacities. However, these investments will only take effect in a few years.