Investing.com - Intel (NASDAQ:INTC) said Monday it has agreed to buy Mobileye (NYSE:MBLY) in a deal that values the Israeli firm at about $15.3 bn.
The U.S. computer processor maker said it will pay $63.54 in cash a share for Mobileye.
Mobileye specializes in creating automated driving solutions.
Intel said it estimates the vehicle systems, data and services market to be worth $70 bn by 2030.
Intel shares were down 0.61% at $35.69 at 09:15 ET.