Mobileye Celebrates 100 Million EyeQ Chips Shipped
Intel just recently announced its intent to take Mobileye public. Now the company celebrates the milestone of having shipped its 100 millionth EyeQ system-on-chip.
With the full support of the board of directors, Intel announced in early December its intention to take Mobileye public in the US come mid next year via an IPO. Intel says that the move will “unlock the value of Mobileye” for its shareholders by creating a separate publicly traded company. Intel will remain the majority owner of Mobileye, and the two companies will continue on as strategic partners, collaborating on projects as they pursue the growth of computing in the automotive sector The Mobileye executive team will remain, with Prof. Amnon Shashua continuing as the company’s CEO. Recently acquired Moovit as well as Intel teams working on lidar and radar development and other Mobileye projects will be aligned as part of Mobileye. In the four years since Mobileye was acquired by Intel, Mobileye has experienced substantial revenue growth. “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,” said Intel CEO Pat Gelsinger as the company announced its intention to take Mobileye public. “Amnon and I determined that an IPO provides the best opportunity to build on Mobileye’s track record for innovation and unlock value for shareholders,” Gelsinger continued. This month, Mobileye celebrates the shipment of its 100 millionth EyeQ system-on-chip (SoC) — the brains behind modern advanced driver-assistance systems (ADAS), Intel states in a new press release. Intel currently owns 100% of Mobileye shares and is expected to retain majority ownership following the completion of the IPO. Intel says it has no intention of spinning off or otherwise divesting its majority ownership interest. The company continues to say that a final decision on the IPO and its conditions and ultimate timing is pending and subject to market conditions.