Why Intel is buying car-vision company Mobileye for $15.3B

Intel Corp. announced an agreement to buy Israel-based Mobileye N.V., a maker of automotive vision technology used for advanced driver assistance systems (ADAS) and fully autonomous vehicles.

The deal, valued at $15.3 billion, would set up Intel as the premier provider of autonomous vehicle chip and machine-vision technology for the ADAS industry, which the company estimates will grow to $70 billion by 2030.