Mobileye prepares for listing on the US stock exchange

Mobileyethe company of owned by Intel that deals with autonomous driving technologieshas submitted an initial public offering application to the US Securities and Exchange Commission for the listing on the American stock exchange.

The company, which is based in Israel, was acquired by Intel in 2017 for a total value of 15.3 billion dollars. Mobileye deals with the production of chips and software for autonomous vehicles.

Intel originally expected a $ 50 billion valuation for the IPO, but followed suit lowered his expectations to around $ 30 billion. The documentation filed with the SEC highlights constant growth for the company over the past few years: $ 879 million in 2019, $ 967 million in 2020 and $ 1.4 billion in 2021. The IPO application does not include information. or information on the price of a single share.

Mobileye was founded in 1999 by Amnon Shashua and Ziv Aviram and became known for its SoC EyeQ which acts as a nerve center for driver assistance technologies and autonomous driving. The company also makes use of Road Experience Managementa data crowdsourcing tool, which allows you to build a three-dimensional map using data collected in real time by the sensors of vehicles equipped with Mobileye technology.

The Israeli company currently supplies its technologies to companies of the caliber of BMW, Nissan and Volkswagen, but has the ambition to build its own fleet of autonomous vehicles for transport and delivery services. Mobileye plans to launch a “robo-taxi” service in Germany this year and a driverless delivery service in 2023. The company is also testing autonomous vehicles in New York and has partnered with the Chinese carmaker. Geely.

The willingness to bring Mobileye on the stock exchange was first announced last year by Intel, when the CEO Pat Gelsinger he said an IPO could provide “the best opportunity to leverage Mobileye’s track record for innovation and unlock shareholder value.” The CEO of Intel also specified that Intel intends to use the funds raised through the listing of Mobileye for the construction of more factories dedicated to the production of chips.