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Intel, betting big on driverless cars, is buying Mobileye for $15 billion

Intel, betting big on driverless cars, is buying Mobileye for $15 billion

As self-driving cars edge closer to street-legal status, technology companies don’t want to be left out.

Computer chipmaker Intel Corp. reached for its share Monday with the $15.3-billion purchase of Mobileye, a small Israeli company that creates vision systems for cars and trucks. The two will combine their expertise to develop self-driving systems for automakers, technologies that combine computer chips with sensors and software to make driverless cars possible.

“This acquisition essentially merges the intelligent eyes of the autonomous car with the intelligent brain that actually drives the car,” Intel Chief Executive Brian Krzanich said in a note to employees about the...

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