The IT giant Intel decided, with the full agreement of its board of directors, to list the subsidiary on the stock exchange Mobileye, specialized in the study of autonomous driving. The Israeli company is already a protagonist of this market, having already carried out several very promising tests, and with this step forward it will be able to collect new interest and new funds in view of a future marketing of its products.
The listing will take place in mid-2022 through an initial public offering of newly issued shares. Intel will retain a majority of Mobileye’s shares and will always act as a strategic partner in the automotive sector. Amnon Shashua, founder and current CEO of Mobileye, will continue to lead the company.
Mobileye expects to make over 40% more revenue in 2021 than in 2020, along with a record of 41 new orders with more than 30 car manufacturers around the world. In this sense, it would be an ambitious goal: to obtain the largest share of the market. For Mobileye, the stock market is not a landing, but a return: it had already been listed on Wall Street in 2014, but three years later Intel had acquired it one hundred percent for $ 15 billion, and with this operation the withdrawal from listing. Today is the time to make the investment pay off, looking for new capital and raising the bar.
“In the four years since the acquisition, Mobileye has experienced substantial revenue growth, achieved numerous technical innovations and made significant investments to solve the most difficult scientific and technological problems to prepare for the implementation of large-scale autonomous driving.“, Intel announced. “Intel’s acquisition of Mobileye was a great success. We have achieved record year-over-year revenue with 2021 earnings expected to be more than 40% higher than in 2020“Said Intel CEO Pat Gelsinger. “Amnon and I have decided that an IPO would offer the best opportunity to build further value on Mobileye’s results and unlock the potential for new shareholders.“.
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