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March 13, 2017 12:40 pm

Netanyahu: Intel’s Acquisition of Mobileye ‘Dramatic’ Proof of Israel Becoming Global Technology Center

avatar by Barney Breen-Portnoy

A vehicle fitted with Mobileye technology drives on an Israeli road. Photo: US Embassy in Tel Aviv via Wikimedia Commons.

A vehicle fitted with Mobileye technology drives on an Israeli road. Photo: US Embassy in Tel Aviv via Wikimedia Commons.

Prime Minister Benjamin Netanyahu congratulated Israeli autonomous vehicle technology firm Mobileye on Monday over its $15.3 billion acquisition by Intel — the largest purchase ever involving the Jewish state’s high-tech sector.

“Israeli genius, Israeli pride,” Netanyahu said on Facebook. “This deal proves in a dramatic fashion that our vision is being realized. Israel is becoming a global technology center — not only in cyber, but also in the automotive realm.”

Furthermore, Netanyahu noted, Mobileye CEO Ziv Aviram told him the company would keep its base of operations in Israel.

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Last year, Mobileye was ranked sixth on a list of the world’s 50 “smartest” companies published by MIT Technology Review.

“How can automakers compete with companies developing self-driving vehicles, such as Google parent Alphabet?” MIT Technology Review wrote. “One increasingly popular option is to partner with Mobileye, which makes machine vision systems and motion detection algorithms that warn drivers when they are deviating from driving lanes or about to collide with cars in front of them.”

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