In December, Intel said it was going to take its Mobileye division to a public offering in 2022, initially aiming to achieve a capitalization of this business of $50 billion. Intel’s market leadership considers 2023.
These plans have not yet been officially made public, but Bloomberg rightly argues that the stock market of semiconductor companies is not in the best shape now, and therefore it makes sense to delay the IPO of the Israeli company Mobileye, which Intel absorbed in 2017 for a record $15 billion. billion turnover has not yet been released and remains an unusual asset for Intel – Mobileye specializes in the development of components and software for active driver assistance systems.
If the situation on the stock market improves this year, then the IPO could take place before 2023, as the sources explain. In the second quarter, Mobileye’s revenue grew 41% to $460 million compared to the same period last year. Operating income increased by 43% to $190 million. Intel was going to distribute the proceeds from the Mobileye share placement in such a way as to give the subsidiary the opportunity to expand its presence in the market. The controlling stake will still remain in the hands of Intel, just the processor giant will spend less of its own funds on the development of the promising Mobileye business. Recently, Intel CEO Patrick Gelsinger said that he does not rule out further optimization of the company’s activities. The development and production of logic circuits, including processors, remains a priority for Intel.
If you notice an error, select it with the mouse and press CTRL + ENTER.