Intel to take Mobileye public

LinkedIn +

Intel has announced its intention to take Mobileye public in the USA in mid-2022 via an initial public offering (IPO) of newly issued Mobileye stock. The move will create a separate publicly traded company.

Intel will remain the majority owner of Mobileye, and the two companies will continue as strategic partners, collaborating on projects as they pursue the growth of computing in the automotive sector. The Mobileye executive team will remain, with Professor Amnon Shashua continuing as the company’s CEO. Recently acquired Moovit as well as Intel teams working on lidar and radar development and other Mobileye projects will be aligned as part of Mobileye.

“Intel’s acquisition of Mobileye has been a great success. Mobileye has achieved record revenue year-over-year with 2021 gains expected to be more than 40% higher than 2020, highlighting the powerful benefits to both companies of our ongoing partnership,” said Intel CEO Pat Gelsinger. “Amnon and I determined that an IPO provides the best opportunity to build on Mobileye’s track record for innovation and unlock value for shareholders.”

In 2021, Mobileye shipped its 100 millionth EyeQ system-on-chip (SoC); scaled autonomous vehicle (AV) test programs across multiple cities around the world covering the USA, Europe and Asia; unveiled its production robotaxi; and secured 41 new ADAS program wins across more than 30 auto makers globally.

“Mobileye has realized accelerated growth and opportunity since joining the Intel family, nearly tripling annual chip shipments, revenue and the number of employees since the acquisition,” said Shashua. “Our alignment with Intel continues to provide Mobileye with valuable technical resources and support that has yielded strong revenue along with free cash flow that allows us to fund our AV development work from current revenue. Intel and Mobileye’s ongoing technology co-development will continue to deliver great platform solutions for our customers.”

Share this story:

About Author

mm

Lawrence has been covering engineering subjects – with a focus on motorsport technology – since 2007 and has edited and contributed to a variety of international titles. Currently, he is responsible for content across UKI Media & Events' portfolio of websites while also writing for the company's print titles.

Comments are closed.