The Hebrew University congratulates Prof. Amnon Shashua, from the Rachel and Selim Benin School of Computer Science and Engineering, on the announcement that Intel Corporation will acquire Mobileye, the firm Shashua co-founded based on his Hebrew University research.
Intel announced that it will commence a tender offer to acquire all of the issued and outstanding ordinary shares of Mobileye for about $15 billion. The deal is the biggest ever exit in the history of Israeli industry.
Mobileye’s technology was developed in Hebrew University labs and was commercialized by Yissum, the Technology Transfer Company of the Hebrew University. The story of Mobileye is the story of its two founders, Amnon Shashua, who serves as chairman and CTO, and CEO Ziv Aviram. Shashua still teaches at the Hebrew University's School of Computer Science and Engineering.
“We are always happy to see technology started at the Hebrew University of Jerusalem become such a huge success. This is a record deal not only for Yissum and Mobileye, but for Israel,” said Yaacov Michlin, CEO of Yissum, the Hebrew University's technology transfer company.
Mobileye was founded in 1999 with a mission to help cut the number of injuries and fatalities caused by vehicles. Over a million people are killed each year in car accidents around the world, and up to 50 million sustain heavy injuries. Mobileye is the world leader in Advanced Driver Assistance Systems (ADAS).
In 2013, Mobileye showcased its driver-safety technology to President Obama as an example of Israeli ingenuity and innovation during his state visit to Israel.