Intel Intends to take Mobileye Public
7 December, 2021
The IPO is planned for mid-2020. Intel currently owns 100% of Mobileye shares and is expected to retain majority ownership following the completion of the IPO
Above: Autonomous Driving car in front of Mobileye’s HQ in Jerusalem
the Intel announced its intention to take Mobileye public in the United States in mid-2022 via an initial public offering (IPO). Intel will remain the majority owner of Mobileye, and the two companies will continue as strategic partners, collaborating on projects in the automotive sector. The Mobileye executive team will remain, with Prof. Amnon Shashua continuing as the company’s CEO. Recently acquired Moovit as well as Intel teams working on LiDAR, radar development and other Mobileye projects will be aligned as part of Mobileye.
Jerusalem-based Mobileye provides computer vision chips, data analysis, localization and mapping solutions for Advanced Driver Assistance Systems and autonomous driving. On August 2017 Intel completed the acquisition of Mobileye for $15.3 billion. Intel CEO Pat Gelsinger said that the acquisition of Mobileye has been a success. “Mobileye has achieved record revenue year-over-year with 2021 gains expected to be more than 40% higher than 2020. 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 U.S., Europe and Asia, unveiled its production robotaxi, and secured 41 new ADAS program wins across more than 30 automakers. Moovit is a Mobility-as-a-Service (MaaS) solutions provider that complements Mobileye’s solutions. The Tel aviv-based company was acquired by Intel on May 2020, for approximately $900 million.
The Mobileye executive team will remain, with Prof. Amnon Shashua continuing as the company’s CEO. Intel currently owns 100% of Mobileye shares and is expected to retain majority ownership following the completion of the IPO. Intel said it has no intention of spinning off or otherwise divesting its majority ownership interest in Mobileye.