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Dan Primack Mar 13, 2017
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Intel is buying Mobileye for $15 billion

Intel is making a major move in the self-driving car wars, agreeing to buy Israel's Mobileye for approximately $15 billion. An announcement is expected later this morning.

News of the mega-merger was first reported in The Marker, and has been confirmed to Axios by a source familiar with the situation. Neither company has returned requests for comment.

Update: The news is officially out. Intel will pay $63.54 per share, which represents a fully-diluted equity value of $15.3 billion and an enterprise value of $14.7 billion.