Intel to Buy Mobileye for About $15 Billion in Car Tech Push

Intel Corp. plans to buy Israel’s Mobileye NV for about $15 billion, its second-biggest acquisition and an expensive attempt to leapfrog rivals such as Qualcomm Inc. in technology for self-driving cars.

The U.S. chipmaker will pay $63.54 per share in cash for Jerusalem-based Mobileye, which makes chips for cameras and driver-assistance features. The offer, the largest ever for an Israeli company, is a 34 percent premium to Mobileye’s closing price March 13. The shares surged 29 percent to $61.10 at 12:45 p.m. March 13 in New York. Intel stock dipped 1.8 percent to $35.28.

Intel is trying to accelerate a ...