Automated Driving Co. Mobileye Closes $400M Equity Offering

Law360, New York (July 8, 2013, 2:08 PM EDT) -- Dutch technology company Mobileye NV, which makes systems for automated car driving, has sold a 26.7 percent equity stake to a group of U.S. and Asian investors for $400 million, Mobileye announced Sunday.

The Amsterdam-based firm said the capital-raising measure will help capitalize on a growing market for automobile automation. Mobileye based the sale on a total equity value of $1.5 billion.

The buyers are a group of U.S.-based institutional asset managers and a Chinese state-affiliated investor, Mobileye said. The Dutch firm did not specify the...
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