The Israeli startup that built a company providing computer vision and safety applications for autonomous vehicles will soon list on the stock market and possibly in New York or Israel. Intel, which purchased Mobileye for $15.3 billion last year, announced the plan on Thursday. Mobileye plans to list under the stock symbol MBLY.
In a discussion at the New York Times headquarters with editor and deputy business editor John Geddes, Intel’s president of global sales and marketing, Rajeev Suri, said the timing was not yet finalized and that the company was still consulting with the Israelis. An Israeli listing is unlikely, since the Tel Aviv Stock Exchange is very picky about regulatory issues. Mobileye has said it’s still considering whether to list in Israel or abroad.
Stuart Kenigsberg, chief investment officer at Kenigsberg Capital Management, described the deal as a brilliant move for Intel. He said the market for technology and services is flooded with deal discussions. “You have to figure out which of the other companies … are going to get attention. If you look at Mobileye, they have a tremendous brand here in the United States and internationally,” he said.
Intel is making an “incredible investment,” Kenigsberg said.
The former chief technology officer of Mobileye, Amnon Shashua, told me that the biggest benefit for Intel was that “we were the start of a technology that could allow cars to operate fully autonomously.” He described Mobileye as “building the brains of the car.”