Intel Jumps on Plans to Take Its Mobileye Car Business Public
- Self-driving unit has been standout performer for chipmaker
- Intel will keep most of the proceeds from the listing
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Intel Corp. plans to list shares of its Mobileye self-driving car business by the middle of next year, letting the chipmaker capitalize on its investment in a burgeoning industry.
Intel will remain the majority owner after the transaction, which involves an initial public offering of newly issued Mobileye stock, the company said in a statement Monday. Mobileye’s executive team, led by Amnon Shashua, also will stay on board.