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.