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Bibi: $15.3 Billion Deal to Create Thousands of New Jobs

PM Netanyahu meets with leaders of Intel and Mobileye, March 14, 2017 (Photo: facebook/israelipm)

Recently, American tech company Intel purchased Israel's Mobileye for $15.3 billion, a record acquisition of an Israeli company. JNS reports that PM Netanyahu met with the two companies' leaders this week to discuss Israel's rapid growth in the global technology sector, and to applaud the many jobs that will be created by the deal:

“This is a celebration for the Israeli economy and for Jerusalem,” Netanyahu said at the meeting. “Israel is quickly becoming a global technology power and this is no coincidence.”

The prime minister also said the acquisition would lead to the creation of “thousands of additional jobs” in Israel and “will inject funds into the Treasury.”

Acquiring Mobileye, a world leader in vision technology for Advanced Driver Assistance Systems, places Intel at the forefront of the emerging self-driving car market.

Intel’s Krzanich said at the meeting that the deal “testified to Intel’s faith in Israel as a center of innovation and its belief in the potential of the driverless car market,” Israel Hayom reported. Mobileye’s Shashua said that “it’s not the money. The money is important. We want to change the world, change the face of cities.”

Tags: US-Israel Relations

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