Mobileye Buy Adds Fuel to Israeli Tech Sector’s ‘Roaring Bonfire,’ Says Blogger
Intel’s proposed $15.3 billion buy of Israeli-based Mobileye (see 1703130015) “kills the myth that Israelis can’t build big companies” and that Jerusalem “is not a hotbed of innovation,” said Lou Kerner, who manages Flight VC's Israeli Founders Syndicate, in a…
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Medium.com blog post Tuesday. The Mobileye deal also “turns the world’s focus to Israel, in a highly positive way, for at least a period of time,” Kerner said. “But most importantly for the Israel tech sector, tech ecosystems, when they are humming, are virtuous circles,” he said. Israel’s tech sector “was already booming,” but the Mobileye deal “just adds more fuel to Start Up Nation’s roaring bonfire,” he said. Mobileye's deal with Intel “is unique" because instead of Mobileye being integrated into Intel, Intel's Automated Driving Group “will be integrated into Mobileye,” and will be “headquartered in Israel,” senior Mobileye management told employees Monday in announcing the deal.