JERUSALEM, July 10, 2017 /PRNewswire/ -- (NYSE: MBLY) –
Mobileye N.V. ("Mobileye" or the "Company"), the global leader in
Advanced Driver Assistance Systems and autonomous driving
technologies, today announced that the German Federal Cartel Office
(Bundeskartellamt), in accordance with the Act Against Restraints
of Competition (Gesetz gegen Wettbewerbsbeschränkungen) and the
regulations promulgated thereunder, and the Austrian
Bundeswettbewerbsbehörde (Federal Competition Authority), in
accordance with the Austrian Cartel Act (Kartellgesetz) and the
regulations promulgated thereunder, have each approved the
previously announced all cash tender offer by Cyclops Holdings, LLC
("Cyclops"), a wholly owned subsidiary of Intel Corporation
("Intel"), to purchase all of the outstanding ordinary shares of
Mobileye.
Completion of the tender offer remains subject to additional
conditions described in the tender offer statement on Schedule TO
filed by Cyclops with the U.S. Securities and Exchange Commission
(the "SEC") on April 5, 2017 (as
amended and supplemented, the "Schedule TO"). Such conditions
include the receipt of regulatory approval from the Korean Fair
Trade Authority and at least 95% of Mobileye's outstanding shares
(as such threshold may be lowered pursuant to the purchase
agreement by and among Intel, Cyclops and Mobileye) being validly
tendered and not withdrawn prior to the expiration of the tender
offer (including any further extensions). The tender offer
will continue to be extended until all conditions are satisfied or
waived, or until the tender offer is terminated, in either case
pursuant to the terms of the purchase agreement and as described in
the Schedule TO.
About Mobileye
Mobileye N.V. is the global leader in the development of
computer vision and machine learning, data analysis, localization
and mapping for Advanced Driver Assistance Systems and autonomous
driving. The Company's technology keeps passengers safer on the
roads, reduces the risks of traffic accidents, saves lives and has
the potential to revolutionize the driving experience by enabling
autonomous driving. The Company's proprietary software algorithms
and EyeQ® chips perform detailed interpretations of the
visual field in order to anticipate possible collisions with other
vehicles, pedestrians, cyclists, animals, debris and other
obstacles. The Company's products are also able to detect roadway
markings such as lanes, road boundaries, barriers and similar
items; identify and read traffic signs, directional signs and
traffic lights; create a Roadbook™ of localized drivable paths and
visual landmarks using REM™; and provide mapping for autonomous
driving. The Company's products are or will be integrated into car
models from more than 25 global automakers. The Company's products
are also available in the aftermarket.
Additional Information and Where to Find It
This press
release is for informational purposes only and is neither an offer
to purchase nor a solicitation of an offer to sell any ordinary
shares of Mobileye or any other securities. A tender offer
statement on Schedule TO, including an offer to purchase, a letter
of transmittal and related documents, has been filed with the SEC
by Intel and one or more of its subsidiaries and a
solicitation/recommendation statement on Schedule 14D-9, has been
filed with the SEC by Mobileye. The offer to purchase all of
the issued and outstanding ordinary shares of Mobileye will only be
made pursuant to the offer to purchase, the letter of transmittal
and related documents filed as a part of the tender offer statement
on Schedule TO, in each case as amended from time to time.
THE TENDER OFFER MATERIALS (INCLUDING AN OFFER TO PURCHASE, A
RELATED LETTER OF TRANSMITTAL AND CERTAIN OTHER TENDER OFFER
DOCUMENTS) AND THE SOLICITATION/RECOMMENDATION STATEMENT ON
SCHEDULE 14D-9 CONTAIN IMPORTANT INFORMATION. INVESTORS AND
SHAREHOLDERS OF MOBILEYE ARE URGED TO READ THESE DOCUMENTS
CAREFULLY BECAUSE THEY CONTAIN IMPORTANT INFORMATION THAT SUCH
HOLDERS SHOULD CONSIDER BEFORE MAKING ANY DECISION REGARDING
TENDERING THEIR ORDINARY SHARES. Investors and security
holders may obtain a free copy of these statements and other
documents filed with the SEC at the website maintained by the SEC
at www.sec.gov, at the transaction website
(http://intelandmobileye.transactionannouncement.com), or by
directing such requests to D.F. King
& Co., Inc., the information agent for the tender offer, toll
free at (800) 966-9021 (for shareholders) or collect at (212)
269-5550 (for banks and brokers).
Forward-Looking Statements
This press release
contains certain forward-looking statements. Words such as
"believes," "intends," "expects," "projects," "anticipates," and
"future" or similar expressions are intended to identify
forward-looking statements. These statements are only
predictions based on the Company's current expectations and
projections about future events. You should not place undue
reliance on these statements. Many factors may cause actual
results to differ materially from any forward-looking statement,
including the risk factors and other matters set forth in the
Company's filings with the SEC, including its Annual Report on Form
20-F for the year ended December 31,
2016. The Company does not undertake any obligation to
update or revise any forward-looking statement, whether as a result
of new information, future events or otherwise, except as may be
required by law.
Company Contact:
Dan Galves
CCO / SVP
dan.galves@mobileye.com
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SOURCE Mobileye N.V.