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Is Mobileye preparing for Nasdaq IPO?
Posted By Viva Sarah Press On March 26, 2014 @ 4:24 am In | No Comments
Mobileye, the world leader in Advanced Driver Assistance Systems, could be heading to Israel’s largest initial public offering on Nasdaq this year, if a Calcalist financial news website report is correct. The report, which has been cited by numerous other media, says Mobileye will raise about $500 million based on a company valuation of $2.5-$3 billion.
Mobileye makes a collision-avoidance technology that was installed on 1.5 million vehicles in 2013 and is expected to be in every car manufactured in the near future. Its unique vision-based platform, driven by its proprietary chipset and algorithms, works as a third eye to reduce the risk of collision. Its solutions are integrated into BMW, General Motors, Volvo, and Ford vehicles.
Hebrew University Professor Amnon Shashua and businessman Ziv Aviram founded the company in 1999.
Mobileye has not commented on the reports of an upcoming IPO.
Last year, the company raised $400 million in a financing round said to lay the ground for an IPO.
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