Intel announced plans to acquire Israel-based Mobileye, a developer of vision technology used in autonomous driving applications, for $15.3 billion. Mobileye share prices jumped from $47 to $61 (the tender offering price is $63.54) on the news, a 30% premium. The purchase marks the largest acquisition of an Israeli hi-tech company ever.
In anticipation of the need for LiDAR devices in cars with assisted steering and other self-driving technologies, both Velodyne and Quanergy received funding. Quanergy raised $90 million and Velodyne got $150 million.