Intel to buy Mobileye

US chipmaker Intel is to acquire Israeli autonomous technology company Mobileye in a $15.3bn deal.

The acquisition combines the best technologies from both companies, including: connectivity, computer vision, data centre, sensor fusion, high-performance computing, localization and mapping, machine learning and artificial intelligence.

‘Together, we can accelerate the future of autonomous driving with improved performance in a cloud-to-car solution at a lower cost for automakers,’ Intel CEO Brian Krzanich said in a statement.

Mr Ziv Aviram, co-founder, president and CEO of Mobileye said, ‘By pooling together our infrastructure and resources, we can enhance and accelerate our combined know-how in the areas of mapping, virtual driving, simulators, development tool chains, hardware, data centres and high-performance computing platforms.’

The two companies are already working in partnership with BMW AG to introduce fully autonomous vehicles on the road by 2021. The partnership is putting a fleet of 40 self-driving 7-Series BMW’s on roads later this year.

Intel chips are already in 30 different vehicle models currently on the road and in hundreds more that are in testing.

Intel forecasts that by 2020 autonomous vehicles will generate 4,000 GB of data per day and that by 2030 the market will be worth up to $70bn.