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Prime Minister Benjamin Netanyahu, spoke Monday (March 13) by telephone with Mobileye President and CEO Ziv Aviram and congratulated him on the largest deal in the history of Israel, which he called a source of Israeli pride. "The transaction is unique in the sense that instead of Mobileye being integrated into Intel, Intel's Automated Driving Group (ADG) will be integrated into Mobileye", the two co-founders wrote. "Combined, we believe we will have the technology and the talent to deliver a leading cloud-to-car (end-to-end) solution for autonomous driving", explains Intel, in the release. Intel previously said it will spend $250 million over the next two years toward the development of autonomous vehicles, but a $15 billion deal is far more significant. Then in November, the two companies partnered with auto parts maker Delphi to create the Automated Driving Group, which will create a self-driving vehicle system that can be sold to automakers.

The story behind the story: Self-driving vehicle technology appears to be the next frontier where Nvidia and Intel will face-off. It has developed real-time camera systems used to avoid accidents with the help of algorithms that interpret the data.

Along with connectivity, computer vision and machine learning, the companies also will combine sensor fusion and high-performance computing capabilities for mapping and location services.

The company is a leader in collision prevention sensors that alert drivers if a pedestrian is in the road, or if they're approaching another auto too quickly.

Mobileye and Intel are now working together, along with German carmaker BMW and 27 other automotive brands, to put 40 test vehicles on the road in the second half of this year.

"We expect the growth towards autonomous driving to be transformative", he said in the statement. "It will provide consumers with safer, more flexible, and less costly transportation options, and provide incremental business model opportunities for our automaker customers".

Intel has agreed to buy the Israeli tech firm for $15.3 (14.3 billion euros) which could give it a dominant role in the autonomous-driving sector. The company's offerings are already inside several semi-autonomous vehicles, including Tesla cars.

The combination of Intel and Mobileye is deemed fitting for both companies have what it takes to create top-of-the-line technologies for driverless vehicles. And they added: "We aim to become the leading team in autonomous driving".

Intel, meanwhile, recently announced its Go computer for self-driving cars that can hold up to 28 Xeon chips.