Intel to buy Israeli driverless car-tech firm Mobileye for $15 billion

U.S. chipmaker Intel agreed to buy Israeli driverless car-technology firm Mobileye for $15.3 billion, positioning itself for a dominant role in the fast-moving autonomous-driving sector. The $63.54-per-share cash deal marks the largest purchase of a company solely focused on the self-driving sector and could significantly alter the competitive landscape among key technology and systems suppliers, including chipmakers Nvidia Corp and Qualcomm Inc and systems integrator Delphi Automotive PLC. Mobileye’s shares jumped 30 per cent to $61.30 in late morning U.S. trading, while Intel’s shares were down 2 per cent. Shares of Delphi, which has partnerships with both companies, were up 3 per cent. The deal underscores the expanding alliances between automakers and their suppliers as they race to develop self-driving cars, a concept that once seemed a science-fiction dream but is drawing closer to reality.