ISRAEL - Intel Buys Mobileye for $15 Billion

Arno Froese

Intel will pay $63.54 a share in cash for the Israeli company, which develops “autonomous driving” systems.

Mobileye and Intel are already working together, along with German carmaker BMW, to put 40 test vehicles on the road in the second half of this year.

Intel expects the driverless market to be worth as much as $70bn by 2030.

Jerusalem-based Mobileye has contracts with 27 car makers. It also controls about two thirds of the market for software that runs automatic emergency braking and semi-autonomous cruise control systems already fitted to cars and trucks.

Announcing the deal, Intel said that as cars “progress from assisted driving to fully autonomous, they are increasingly becoming data centers on wheels.”

The chipmaker reckons that by 2020 driverless cars will generate 4,000 GB, or 4 terabytes, of data a day that can be mined for information.

Timothy Carone, a Notre Dame University academic, said: “Major players are finding ways to position themselves for a change as seminal as the personal computer revolution.”

Mobileye was founded in 1999 to develop “vision-based systems to improve on-road safety and reduce collisions.”

The company, along with Intel’s automated driving group, will be based in Israel and led by Amnon Shashua, Mobileye’s co-founder, chairman and chief technology officer.

In its results for last year, Mobileye said revenue more than tripled to $358m, while pre-tax profit jumped from $79.7m to $125.4m.

-www.bbc.com, 13 March 2017

Arno's commentary

To read about Israel’s mind-boggling success, is almost no longer news. This is not an exception or a one-time deal, but a continuity, and the future promises explosive growth.

The website, geektime.com, writes this about Israel:
      In 2015, we saw the total number of new startups rise to 1,400, of which about 373 companies raised around $3.58 billion (in this report, we count only rounds that are above $500,000) and 69 companies that were sold for the total sum of $5.41 billion. Other than the fact that there were the same number of IPOs in both 2014 and 2015, all other measures show a significant amount of growth, bringing the startup nation to another record year. 

Why Israel? Because, according to the prophetic Word, they are destined to be the envy of the world. And that is one reason why the world hates Israel, whether openly or secretly. One thing is crystal clear: no nation on planet earth recognizes Israel’s right to the Promised Land as outlined in Holy Scripture.

Arno Froese is the executive director of Midnight Call Ministries and editor-in-chief of the acclaimed prophetic magazines Midnight Call and News From Israel. He has authored a number of well-received books, and has sponsored many prophecy conferences in the U.S., Canada, and Israel. His extensive travels have contributed to his keen insight into Bible prophecy, as he sees it from an international perspective.

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