Intel To Buy Mobileye For Equity Value Of About $15.3 Bln

(RTTNews) - Intel Corp. (INTC) said Monday that it agreed to buy Mobileye N.V. (MBLY) for $63.54 per share in cash, representing an equity value of about $15.3 billion and an enterprise value of $14.7 billion.

As per the agreement, Intel will commence a tender offer to acquire all of the issued and outstanding ordinary shares of Mobileye, a global leader in the development of computer vision and machine learning, data analysis, localization and mapping for advanced driver assistance systems and autonomous driving.

The transaction is expected to be accretive to Intel's non-GAAP EPS and free cash flow immediately. Intel intends to fund the acquisition with cash from the balance sheet.

The transaction is expected to close within the next nine months. It has been approved by the Intel and Mobileye Boards of Directors and is subject to the receipt of certain regulatory approvals and other closing conditions. The offer is not subject to any financing conditions.