Another takeover bid in the tech-auto industry has been made by tech giant Intel Corporation with a goal of furthering the company’s position in the driverless car trend.

In a press release on Monday, chipmaker Intel Corp announced that it will purchase Israeli driverless tech company Mobileye for a total of $15.3 billion or $63.54 per share in cash, with an enterprise value of $14.7 billion. Intel proposed to acquire the driverless tech company due to its leading computer vision expertise in developing autonomous programs from the cloud, enabling an easier access to driverless cars.