Biggest tech deal of 2017: -
The U.S chip giant Intel and Israel’s driver-less technology company Mobil-eye have agreed on an agreement. According to this agreement, Intel will buy the Mobil-eye for $15.3 billion (approx. £12bn).
So, what is Mobil-eye?
Mobil-eye is basically an Israeli company that develops sensors and autonomous cars.
· Previous work: -
The firm has previously developed the Tesla's semi-autonomous autopilot. It stopped making autopilots after the disagreement.
How does the system work?
Intel said that it would combine its chip with the firm’s artificial intelligence systems.
What will be the goal?
The company has said that their target is to make driving solutions from the cloud through the internet to the car.
Message from the CEO: -
Brian Krzanich, Intel’s CEO had sent emails to all the employees which say that data is the key to Intel’s work with autonomous cars in the future.
The CEO said that at four terabytes of data per day, the average autonomous car will put on the data equal to about 3,000 people. Today is a big day for all of us as it creates a basis for independent driving.
Intel is not developing vehicles: -
The CEO does not want to convey the message that Intel will now build self-driving vehicles but developing technologies and systems that can be used within other manufacturer’s vehicles.
Virtual reality technology: -
This approach has been used for virtual reality technology by Intel. The CEO said that the collaboration between the two companies will open new doors for
- Computer vision
- Sensor fusion
- Mapping
- Artificial intelligence
- Machine learning
Office in Israel: -
Intel is planning to open its office in Israel.
Then, who were the leaders?
The Automated Driving Group will be led by:
Amnon Shashua: who is the CTO and co-founder of Mobil-eye.
Ziv Aviram: who is the co-founder of Mobil-eye.
Apology: -
The CEO send an apologetic email to his employees that are about informing them about this announcement.
Mutual statement: -
The both CEO’s have given a statement that states that it is more than a $15 Billion deal. The deal will unite the Intel’s Automated Driving Group (ADG) mobile eye technology.
Automated Driving Group: -
Intel company will now have following facilities after the collaboration.
- Mapping ingestion infrastructure
- Systems engineers
- Cloud computing with data centres
- Vehicle build engineers
Business as usual: -
Both CEO’s have made a statement that it is business as usual, it will be considered as proper deal after completion.
When the deal will complete: -
It is expected that the deal will get finalised at the end of this year.
Shares of Mobil-eye:-
A subsidiary of Intel will acquire all the shares of Mobil-eye for $63.54 (£51.99) per share in cash.
