BREAKING NEWS

Israel's Mobileye files for US IPO

By REUTERS

JUNE 20, 2014 00:20

Mobileye NV, which makes software and cameras that help cars avoid accidents, filed with US regulators on Thursday to raise up to $100 million in an initial public offering.

The Israel-based company listed Goldman Sachs and Morgan Stanley as lead underwriters to the IPO, according to a regulatory filing.

The company's collision-avoidance technology is used in more than 3 million vehicles made by the likes of BMW and General Motors.

Mobileye's systems include a windshield-mounted camera that takes pictures of what is in front of the driver. The images are processed and, in real-time, a small device on the dashboard gives the driver audio-visual warnings.

Mobileye on Thursday did not say how many shares would be sold in the offering or the price the shares would be sold at.

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