Mobileye, the company sold to Intel on Monday for $15.3 billion — the highest price for a technology company in Israeli history — will remain centered in Israel, its director general said.
Ziv Aviram told Prime Minister Benjamin Netanyahu, who had called to congratulate him, that Mobileye would establish a world development center in Israel and would take responsibility internationally, on behalf of Intel, for the creation of a driverless car, a statement from the Prime Minister’s Office said.
Earlier, Netanyahu took to Twitter to praise “Israeli genius, Israeli pride.”
The prime minister told Aviram, “the deal proves dramatically that the vision we lead is bearing fruit. Israel is turning into a world center for technology, not only in cyber, but also in cars.”
כל הכבוד למובילאיי! גאונות ישראלית, גאווה ישראלית.
Congratulations to Mobileye! Israeli genius, Israeli pride.
— Benjamin Netanyahu (@netanyahu) March 13, 2017
Mobileye’s shares shot up nearly 30 percent in pre-market trading on the NASDAQ stock exchange after the news broke.
Transportation Minister Israel Katz praised Intel and Mobileye for the “historic deal, which puts Israel at center stage in the development of an automatic car and the prevention of accidents.”
He called on Finance Minister Moshe Kahlon to earmark tax income generated by the deal for the battle against traffic accidents and to guarantee that all Israeli drivers have access to safety technology.
The Labor Party’s Erel Margalit, who established Jerusalem Venture Partners — a technology venture capital firm — 24 years ago, congratulated “a wonderful company, a wonderful deal,” and said he saluted the team “as an entrepreneur, a lawmaker and mainly as a Jerusalemite.”
“Until 20 years ago, nobody believed one could do high-tech in Jerusalem,” he wrote on Facebook.
But since then, 14 high-tech start-ups from the city had been floated on the stock exchange, and another 13 sold.
Mobileye was a Jerusalem company that emerged from the Hebrew University’s department for computer vision, and which “proves that Israeli high-tech can break every boundary possible,” he said.