Elections 2024

Weekly Update EP:01 Khaya Sithole , MK Election Ruling, ANC Funding, IFP Resurgence & More

sona.co.za

Elections 2024 Guide

Advertise your job ad

Jobs

Production Manager Hammanskraal
Parts Sales Executive Johannesburg North
Impots Clerk Johannesburg
Parts Manager Pinetown
Fitment Centre Manager Polokwane

More jobs Submit a job Open account

Intel, Mobileye deal to make Israel autonomous tech hub

By Ilse van den Berg

15 Mar 2017

NEWSWATCH: Intel is buying Israeli autonomous vehicle technology firm Mobileye for an estimated $15 billion - reportedly its second-biggest acquisition and a bold attempt to dominate technology for self-driving cars.

The US chipmaker will pay $63.54 per share in cash for the Jerusalem-based Mobileye, according to a statement from both companies.

According to a report on Bloomberg Technology, Prime Minister Benjamin Netanyahu said in a text message: "Israel is becoming a global technology centre, not only in cyber but also in the automotive area.”

Israel had reportedly already singled out the automotive technology sector as a possible economic boon, allotting it 250 million shekels ($68 million) for the next five years.

In this video, Intel CEO explains the move to buy Mobileye:

For more:

Ilse Burger

About Ilse van den Berg

Ilse is a freelance journalist and editor with a passion for people & their stories (check out Passing Stories). She is also the editor of Go & Travel, a platform connecting all the stakeholders in the travel & tourism industry. You can check out her work here and here. Contact Ilse through her website here.