Intel this week announced its intention to take Mobileye public in the United States in mid-2022 via an initial public offering (IPO) of newly issued Mobileye stock.
The move will unlock the value of Mobileye for Intel shareholders by creating a separate publicly traded company and will build on Mobileye’s successful track record and serve its expanded market.
Intel will remain the majority owner of Mobileye, and the two companies will continue as strategic partners, collaborating on projects as they pursue the growth of computing in the automotive sector.
In the four years since Mobileye was acquired by Intel, Mobileye has experienced substantial revenue growth, achieved numerous technical innovations and made significant investments directed to solving the most difficult scientific and technology problems to prepare the deployment of autonomous driving at scale.
Mobileye is a global leader and at the forefront of innovation in advanced driver-assistance systems (ADAS) and self-driving solutions – a rapidly growing and evolving market that is transforming the movement of goods and people globally. 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 globally.
Intel’s long-term commitment to the automotive market is underscored by recently announced programs, including the Intel Foundry Services Accelerator and dedicated capacity for the automotive industry. Intel will continue to support Mobileye with technical resources to deliver industry-leading sensor technologies, while Mobileye’s strength in the automotive sector will continue to enable Intel to address the automotive sector’s fast-growing silicon BOM opportunity. Intel’s global reach along with its ability to offer a geographically diverse supply chain, global manufacturing network and expertise in radar, lidar and software continues to position Mobileye for ongoing collaborative success.
Mobileye went public in 2014; it was acquired by Intel in 2017. Intel currently owns 100% of Mobileye shares and is expected to retain majority ownership following the completion of the IPO.
Intel CEO Pat Gelsinger
Intel’s acquisition of Mobileye has been a great success. Mobileye has achieved record revenue year-over-year with 2021 gains expected to be more than 40 percent higher than 2020, highlighting the powerful benefits to both companies of our ongoing partnership.
Shashua, Founder and CEO of Mobileye
Our alignment with Intel continues to provide Mobileye with valuable technical resources and support that has yielded strong revenue along with free cash flow that allows us to fund our AV development work from current revenue. Intel and Mobileye’s ongoing technology co-development will continue to deliver great platform solutions for our customers.
