No Decision on Timing of Mobileye IPO, Says Intel
Intel hasn't decided on the conditions, pricing and timing of a mid-2022 initial public offering to take Mobileye public through newly issued stock, said the chip maker Monday. Intel will remain Mobileye’s majority owner after the IPO is complete, it…
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said. Intel expects Mobileye to deliver 40% or more of revenue growth this year on 41 new “program wins” with 30 global automotive OEMs, it said. “We see a lot of value creation over the next four or five years for Mobileye from being part of the Intel asset,” CEO Pat Gelsinger told a Credit Suisse investor conference last week. Intel bought Mobileye in 2017 for $15.3 billion in an all-cash transaction under then-CEO Brian Krzanich (see 1708010051).