Mobileye, N.V., a Dutch private company manufacturing camera-based advanced driver assistance systems (ADAS) technologies for the automotive industry, has announced the execution of agreements providing for the sale of approximately US$400m of equity at a company equity valuation of US$1.5bn (on a pre-money basis) to five “unaffiliated and highly regarded financial investors”.
It said in a statement that the investors include “some of the largest US based global institutional asset managers and a leading Chinese government-affiliated financial investor”.
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Goldman, Sachs & Co. and Morgan Stanley served as the placement agents for the financing. The transaction is expected to close in August.
Mobileye said that the investments illustrate the strength of Mobileye’s industry-leading position and technological superiority. As regulatory support and evolution of global safety standards drive acceleration of the ADAS features into automakers’ offerings and aftermarket acceptance, Mobileye said it is “well positioned to capitalize on market opportunity and realize strong growth while furthering its mission of reducing automotive accidents and saving lives”.
Mr. Ziv Aviram, chief executive officer and a co-founder of Mobileye, said, “This successful transaction is a testament to the strength of our business and the company’s future prospects. We are excited to have such world-class investors joining forces with us as we move into the next growth phase of our company.”
