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Intel plans to take Mobileye public

Peter Krass's picture

by Peter Krass on 12/07/2021
Blog Category: advanced-technologies

Much of the world may be starting to wind down for the holiday season, but not Intel and its new CEO. Last night Pat Gelsinger announced that Intel plans to take Mobileye public in mid-2022.

Mobileye is a provider of advanced driver-assistance systems. Intel acquired Mobileye in 2017 for $15.3 billion, and it currently holds 100% of the company’s stock.

The IPO plan calls for many elements to remain in place. Ammon Shashua, a Mobileye co-founder, will remain as the company’s CEO. Intel and Mobileye will remain as partners. And Intel intends to remain a majority shareholder of Mobileye, with no plans to spin off or further divest its majority ownership.

Mobileye

Why take Mobileye public? By way of an answer, Intel says the IPO will “unlock” the value of Mobileye while also letting the company build on its successful track record.

Intel also points out that the auto electronics market is growing fast. A McKinsey & Co. /Intel report predicts that semiconductors will represent 20% of a premium vehicle’s total bill-of-materials by 2030.

Key milestones

Don’t know much about Mobileye? Here are some of the company’s key milestones:

1999: Founded in Israel by Amnon Shashua, Ziv Aviram and Norio Ichihashi

2004: Samples its first camera-based advanced driver-assistance system (ADAS). Called EyeQ, it’s a system-on-chip running on a 180 nm process.

2007: Goes into production with 3 automakers.

2010: Tech offered in 36 car models of 7 brands.

2014: Goes public on the New York Stock Exchange with an IPO valuation of $5.3 billion.

2017: Acquired by Intel; Ziv Aviram retires, Amnon Shashua becomes CEO.

2019: Tech now in over 300 car models with 28 brands, for a total of 60 million vehicles worldwide.

2020: Company’s business expands to 3 areas: ADAS, automated driving and mapping. Annual revenue approaches the $1 billion mark.

2021: Announces self-driving robotaxi (pictured below) powered by the Mobileye Drive self-driving system. The first cars will be deployed in 2022 in two cities: Munich, Germany, and Tel Aviv, Israel.

Mobileye robotaxi

Learn more:

> Press release: Intel announces intent to take Mobileye public

> Video from IAA Mobility 2021: Intel CEO on the role of tech in the future of mobility

About Mobileye

 

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