Largest purchase of Israeli tech

Intel to buy Mobileye for $15 billion in largest purchase of Israeli

US giant Intel Corp. said Monday that it has agreed to buy Mobileye, a Jerusalem-based developer of advanced vision and driver assistance systems, for $15.3 billion. The American chipmaker hopes the purchase will position it as a leading technology player in the fast-growing self-driving car market.

“The deal, the largest ever purchase of an Israeli high-tech company, was hailed across Israel as a sign of the country’s technological prowess”.

“Israel is a superpower in knowledge, technology and innovation,” said Science and Technology Minister Ofir Akunis.

“The fact that large international companies see potential in Israel and are seeking to acquire Israeli companies that lead their prospective fields is a source of national pride for our technological strength,” he said.

“This is by far the biggest deal in Israeli high-tech,” Koby Simana, the CEO of IVC Research Center, which tracks Israel’s high-tech industry told The Times of Israel. “It is a huge Israeli success of a company that was founded at the Hebrew University of Jerusalem some 20 years ago.”

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