TEL AVIV, March 24 Mobileye, whose
collision-avoidance technology has been adopted in cars made by
the likes of BMW and General Motors, is
planning an initial public offering on Nasdaq this year, the
Calcalist financial news website said on Monday.
According to Calcalist, Mobileye will raise about $500
million based on a company valuation of $2.5-$3 billion, which
would make it the largest Nasdaq IPO by an Israeli company this
Company officials could not immediately be reached for
Founded in 1999 by an Israeli businessman and a professor of
computer science at the Hebrew University of Jerusalem, Mobileye
last year raised money from five investors that valued its
equity at $1.5 billion.
The company said at the time that the five equity
investments totaled about $400 million. The figures provided by
the company imply that the five investors collectively acquired
roughly a 27 percent stake in Mobileye.
Mobileye, which is registered in Holland, was founded by
Chairman Amnon Shashua and Chief Executive Ziv Aviram. Each
holds 10 percent of the company, a large portion of which they
plan to offer for sale as part of the IPO, Calcalist said.
The company's shareholders include Goldman Sachs, Fidelity
Investments, Wellington Management Co, BlackRock,
China's Sailing Capital Management and car rental company
Enterprise Holdings, Calcalist said.
Mobileye's systems include a camera mounted on the
windshield that takes pictures of what is in front of the
driver. A chip, manufactured by STMicroelectronics,
processes the images and in real-time issues audio-visual
warnings to drivers on a small device on the dashboard.
(Reporting by Tova Cohen)