US-based micro-chip maker Intel is to acquire Israeli driverless technology company Mobileye (www.mobileye.com) in a deal worth around $15.3 billion.

The acquisition will combine technology from the two companies that includes “connectivity, computer vision, data centre, sensor fusion, high-performance computing, localisation and mapping, machine learning and artificial intelligence”, according to a statement.

Intel CEO Brian Krzanich said: “The vehicle systems, data and services for the autonomous-driving market could be worth $70 billion by 2030. With Mobileye’s acquisition, we could get a step closer to the development of fully autonomous vehicles.

“Intel provides critical ‘foundational technologies’ for autonomous driving, including plotting the car’s path and making real-time driving decisions. Mobileye brings the industry’s best automotive-grade computer vision and strong momentum together with car makers and suppliers.”

Mobileye CEO Ziv Aviram said: “We expect the growth towards autonomous driving to be transformative. It will give consumers safer, more flexible and less costly transportation options.

“By pooling our infrastructure and resources, we can enhance our know-how in the areas of mapping, virtual driving, simulators, development tool chains, hardware, data centres and high-performance computing platforms.

“Together, we will provide an attractive value proposition for the automotive industry.”