WASHINGTON, DEC 7: Intel Corp said that it plans to take its self-driving car business, Mobileye, public in the United States in mid-2022 through an initial public offering of newly issued Mobileye stock.
Intel will remain the majority owner of Mobileye, which went public in 2014 and was acquired by Intel in 2017.
The technology giant currently owns 100 per cent of Mobileye shares and is expected to retain majority ownership following the completion of the initial public offering.
Intel has no intention of spinning off or otherwise divesting its majority ownership interest.
Chip producer, as majority shareholder, said it will continue to fully consolidate Mobileye. The transaction is not expected to have an impact on Intel’s 2021 financial targets.