Intel intends to issue Mobilai

The Israeli company, which was sold to the technology giant for $ 15.3 billion, could be yours - or at least part of it: Intel has announced that it intends to issue Mobilai during 2022. Intel intends to retain control of the company.

Prof. Amnon Shashua will continue to lead the company even after the IPO

Sonia Gorodisky

07/12/2021

Tuesday, 07 December 2021, 09:53 Updated: 10:11

• Share on Facebook

• Share on WhatsApp

• Share on Twitter

• Share on Email

• Share on general

• Comments

  Comments

Mobileye Autonomous Vehicle Test

Technology giant Intel has announced its intention to issue Mobilai to the public. In 2017, Intel acquired the Israeli company for a record $ 15.3 billion and now it intends to turn it into a public company, but remain in control of it.

According to Intel's announcement, the initial public offering is based on Mobilai's proven revenue growth and innovation, and is even expected to reflect hidden value for Intel's shareholders.

Key points for the IPO:

• Mobilai is a market leader in driver assistance systems and autonomous driving solutions. The company is expected to show for 2021 a growth of over 40% in revenue, compared to 2020, along with a record of 41 wins in new projects with more than 30 leading automakers worldwide.

"Recently, Mobilai provided its 100 million chip (EyeQ® system), unveiled the company's (ro-taxi) autonomous taxi, and expanded its autonomous vehicle (AV) pilot programs in a number of US cities." In Europe and Asia.

• Intel will remain the majority shareholder in Mobilai.

• Intel and Mobilai will continue to cooperate in the development of solutions and technologies in order to advance the interests of the two companies in the automotive technologies market.

• Prof. Amnon Shashua and Mobilai's management team will continue to lead the company.

Good to know (promoted)

The natural treatment that overcomes knee pain - without leaving home

Served on behalf of Apostrophe Therapy

Mobilai's autonomous vehicle on a test drive in New York (Photo: Mobileye)

The company's revenue increased under Intel

Intel also said that the IPO will take place in the US in mid-2022 through an initial public offering (IPO) of new Mobilai shares. Over the years

, Intel will remain the majority shareholder in Mobilai, and the two companies will continue to operate as strategic partners, with the aim of providing innovative computing solutions that will address the growth trend of technological solutions in the automotive industry. About 20% of all hardware components (BOM) of premium vehicles by 2030.

The announcement also emphasizes the fact that Prof. Amnon Shashua will continue to serve as the company's CEO and, together with the senior management team, will continue to lead the company. From Mobilai.

Intel also notes that in the four years since Mobilai was acquired by Intel, the company has significantly increased its revenue, led many technological innovations and made significant investments, in order to solve the most difficult scientific and technological issues in preparation for a widespread deployment of autonomous driving technologies.

"The acquisition of Mobilai by Intel was a great success. Mobilai posted record profits, year after year, when in 2021, profits are expected to be more than 40% higher than last year. This interest highlights the significant benefit to both companies as part of our ongoing partnership." , Said

.

"Amnon and I have decided that an initial public offering is the best opportunity to move forward based on Mobilai's proven ability to innovate, while also enabling a reflection of the hidden value for shareholders."

Prof. Amnon Shashua.

Will continue to lead Intel even after the planned IPO during 2022 (Photo: Jonathan Hefner)

Free cash flow

Mobilai is a global leader and is at the forefront of innovation in advanced driver assistance systems (ADAS) and autonomous driving solutions - a market that is growing and evolving rapidly and changing the way goods and people are transported around the world.

In 2021, Mobilai delivered its 100 million chip (EyeQ® system), expanded its autonomous vehicle test programs in several cities in the US, Europe and Asia, unveiled its autonomous (robo-taxi) taxi, And announced a record number (41) of new project wins with more than 30 leading automakers around the

world.These projects include a range of technologies, from providing driver assistance technologies, moving to advanced assistance systems (L2 +), to fully autonomous driving systems.

Mobilai has also secured its engagement in a variety of Mobility as a Service (MaaS) transactions starting in 2023, as well as planning the production of autonomous driving systems for autonomous vehicles, both business (B2B) and end-user (B2C), starting in 2024.

"Mobilai has enjoyed accelerated growth And many opportunities, since joining the Intel family, have almost tripled the annual chip supply, profits, and number of employees since the acquisition, "said

.

" Our partnership with Intel continues to provide Mobilai with technical resources and valuable support. Value, which yielded free cash flow, allowing us to fund the development of autonomous driving technologies from current revenues. "The technological collaboration between Mobilai and Intel will continue to provide excellent platform solutions for our customers."

Intel's long-term commitment to the automotive industry is highlighted through recently announced programs, including the Intel Foundry Services Accelerator and the allocation of resources to the automotive industry.

Intel will continue to support Mobilai through technical resources, with the aim of providing the industry with leading sensor technologies, while Mobilai's strength in the automotive field will continue to enable Intel to address growing opportunities in the field. Intel's Global Operational Capability along with its ability to offer a geographically diverse supply chain, global manufacturing network and radar (radar) expertise, leader and software continue to position Mobilai on its path to lasting success.

Mobilai was issued to the public in 2014; it was acquired by Intel in Intel currently holds 100% of Mobilai shares and is expected to remain a majority shareholder even after the initial public offering is completed.

As emphasized in the announcement, Intel has no intention of making a spin-off or selling its majority stake in Mobilai in any other way.

The Company also clarifies that a final decision regarding the initial public offering, its terms and its final timing depend on market conditions and will be determined accordingly.

Because Intel, as the majority owner, will continue to fully consolidate Mobilai's reports, the deal is not expected to have an impact on Intel's financial targets for 2021 or longer term.

• Of money

• Our money

• Raisings and issues

Tags

• Mobilai

• Intel

• issue