IT brief: Brussels, among others, taking a closer look at Nuance acquisition Microsoft
Short IT news today.
AG Connect provides an overview of today’s brief IT news below:
American chipmaker Intel plans to list its Mobileye division, which focuses on self-driving cars, in mid-2022. That was confirmed Tuesday after reporting about it in The Wall Street Journal.
Intel bought Israeli Mobileye in 2017 for more than $15 billion. Mobileye is a specialist in the field of software and sensors for self-driving cars and systems that make driving faster and safer. With the purchase, Intel competed with rivals like Nvidia and Qualcomm to develop systems for self-driving vehicles for automakers.
Automakers such as General Motors, Ford and Toyota are rushing to switch from gasoline engines to all-electric powertrains and are operating in models with features such as features such as self-driving systems.
Intel does not plan to divest a majority stake in Mobileye, the company said in a statement. The company will also continue to provide technical resources to Mobileye. New shares will be issued at the IPO. Mobileye’s valuation could reach $50 billion in an IPO, according to sources from The Wall Street Journal.
Intel under pressure
Intel CEO Pat Gelsinger, along with Amnon Shashua, has determined that an IPO represents “the best opportunity to build on Mobileye’s strong reputation for innovation and create value for shareholders”. A final decision on the IPO and the timing will depend on market conditions, according to Intel.
Intel is under fire from activist shareholder Daniel Loeb. Late last year, Third Point, Loeb’s investment company, announced a stake in the stake. The investor believes that the chipmaker has found in finding parts of the base, consisting of a split and sale of. (ANP)
The competition authority of the European Union wants more information about the acquisition of Nuance Communications by Microsoft. Brussels has drawn up a list of the two companies to worry about about the deal, Reuters news agency reported, which has seen the questionnaire.
The Brussels inquiry is the most comprehensive investigation into the Nuance-Microsoft deal since its announcement in April this year. The acquisition of the American Nuance, which is active in the field of artificial intelligence (AI) and speech technology, is the largest purchase by Microsoft ever with a price tag of 16 billion dollars (more than 13 billion euros). According to experts, with the acquisition, the technology group wants to take more steps in the field of healthcare software.
The acquisition was approved by the US regulator in June this year, after a minimal review of the deal. In October, the companies received the green light from the competition watchdog. In November, Microsoft and Nuance have approval from the European Commission’s competition office and the regulator until December 21 to approve the deal to open a larger investigation.