Mobileye to launch IPO in the US in mid-2022

The Israeli led, Intel owned global leader in advanced driver-assistance systems and self-driving solutions will join the US stock market in mid-2022, signaling a new phase in the company's growth.

 Mobileye autonomous vehicles (photo credit: COURTESY MOBILEYE)
Mobileye autonomous vehicles
(photo credit: COURTESY MOBILEYE)

Intel announced its intention to take Mobileye public in the United States in mid-2022 via an initial public offering (IPO) of newly issued Mobileye stock.

Mobileye is a global leader in advanced driver-assistance systems (ADAS) and self-driving solutions. In 2021, Mobileye shipped its 100 millionth EyeQ® system-on-chip; scaled autonomous vehicle test programs across multiple cities around the world covering the US, Europe and Asia; unveiled its production robotaxi; and secured 41 new ADAS program wins across more than 30 automakers globally. The company has also secured multiple deals for mobility-as-a-service (MaaS) programs starting in 2023, as well as consumer and business-to-business vehicle production designs for Mobileye’s self-driving system starting in 2024.

Intel will remain the majority owner of Mobileye, and the two companies will continue as strategic partners, collaborating on projects as they pursue the growth of computing in the automotive sector. The Mobileye executive team will remain, with Prof. Amnon Shashua continuing as the company’s CEO.

“Intel’s acquisition of Mobileye has been a great success. Mobileye has achieved record revenue year-over-year with 2021 gains expected to be more than 40 percent higher than 2020, highlighting the powerful benefits to both companies of our ongoing partnership,” Intel CEO Pat Gelsinger said. “Amnon and I determined that an IPO provides the best opportunity to build on Mobileye’s track record for innovation and unlock value for shareholders.”

Shashua, who is also a founder of the company, said, “Mobileye has realized accelerated growth and opportunity since joining the Intel family, nearly tripling annual chip shipments, revenue and the number of employees since the acquisition. Our alignment with Intel continues to provide Mobileye with valuable technical resources and support that has yielded strong revenue along with free cash flow that allows us to fund our AV development work from current revenue. Intel and Mobileye’s ongoing technology co-development will continue to deliver great platform solutions for our customers.”

Intel CEO Pat Gelsinger and Mobileye CEO Amnon Shashua examine one of the company's autonomous cars. (credit: COURTESY MOBILEYE)Intel CEO Pat Gelsinger and Mobileye CEO Amnon Shashua examine one of the company's autonomous cars. (credit: COURTESY MOBILEYE)

Mobileye went public in 2014 and was acquired by Intel in 2017. Intel currently owns 100% of Mobileye shares and is expected to retain majority ownership following the completion of the IPO. Intel has said it has no intention of spinning off or otherwise divesting its majority ownership interest.