Intel plans to take Mobileye public in United States in mid-2022
Intel says the move will unlock the value of Mobileye for its shareholders by creating a separate publicly traded company and will build on Mobileye’s successful track record and serve its expanded market.
- United States
Intel has announced the intention to take its subsidiary Mobileye, a market leader in driver-assistance and autonomous driving solutions, public in the United States in mid-2022. Mobileye was acquired by Intel in 2017 and the latter currently owns 100% of the company's shares.
In a press release on Monday, Intel said that it will maintain majority ownership of Mobileye following the completion of the initial public offering (IPO), and the two companies will continue as strategic partners, collaborating on projects as they pursue the growth of computing in the automotive sector. The chipmaker has no intention of spinning off or otherwise divesting its majority ownership interest.
This year, 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, and secured 41 new ADAS program wins across more than 30 automakers globally. The company also unveiled its first production-grade, six-passenger, all-electric, self-driving robotaxi which is set to hit the streets of Munich (Germany) next year.
Intel says the move will unlock the value of Mobileye for its shareholders by creating a separate publicly traded company and will build on Mobileye's successful track record and serve its expanded market.
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.