One of the fastest growing industries at this point is arguably self-driving technology. Several large companies have spent notable amounts of money on acquiring start-ups that show promise in the field. The latest to join this trend is Intel, who recently purchased Mobileye.
According to Seeking Alpha, the computer chip maker put down something along US$15.2 billion for Mobileye, an amount that is grand at any scale. The newly acquired Israeli company is considered as a leader in the autonomous vehicle world. Intel's move is a strategic one, especially as its competitors continue to hone their knowledge on the technology.
Mobileye is based in Jerusalem and develops software that processes information from cameras and other such sensors. This software is then able to make decisions as to where the car should steer. The publication noted that the company's products are part of the built of most autonomous vehicles that are currently being produced. BMW is one of its biggest partners.
Because of its stellar standing in the market, Mobileye will help place Intel at the forefront of autonomous driving, more specifically as a supplier of important parts. Moreover, The Washington Post has noted that the chip company has reportedly gained access to major vehicle manufacturers and parts suppliers. Together, the companies are expected to produce a line of sensors and camera systems that will generate as much as US$10 billion by 2022.
The deal is scheduled to close within the year and it will produce another strong player in the world of self-driving. Intel is not the only player putting down big money, as several other tech companies and automakers have significantly invested in the field. It is expected that autonomous vehicles will be seen on a significant scale within the next three to five years. "Major players are finding ways to position themselves for a change as seminal as the personal computer revolution," Timothy Carone, a professor at Notre Dame University, was quoted as saying.
