Mobileye founder quits Hebrew U over royalties dispute

Amnon Shashua Photo: PR

Prof. Amnon Shashua is resigning his position at the Hebrew University due to a dispute about the $15.3 billion sale of Mobileye to Intel.

Mobileye cofounder Prof. Amnon Shashua is resigning his position at the Hebrew University of Jerusalem, reportedly due to a monetary dispute about the sale of Mobileye to Intel for $15.3 billion. The sale of Mobileye, the largest Israeli exit of all time, was completed last week.

The dispute between Shashua and the university concerned the amount of royalties owed by Mobileye to the university. It was previously reported that the parties had reached an arbitration agreement on the matter. Hebrew University today declined to comment on the possibility that Shashua would resign his position, and gave no particulars about the amount that the university expected to receive.

The university stated, "There is a procedure taking place with Prof. Shashua, and we hope that it will culminate with good feelings. The university does not disclose information about its staff members, and will not do so now." The university's representative declined to comment on the question of whether a legal proceeding was involved.

Hebrew University's relations with Shashua go back a long way. He joined the university's Rachel and Selim Benin School of Computer Science and Engineering in 1996. He was appointed a professor three years later, and made an academic staff professor in 2003. He headed the School of Computer Science and Engineering in 2002-2005.

Early this week, it was reported that Shashua and Ziv Aviram, his partner in founding Mobileye, were suspected of providing insider information about the company's acquisition. The US Securities and Exchange Commission (SEC) is currently conducting proceedings against two Israelis and two US citizens suspected of making huge profits on trading in Mobileye's shares through the use of insider information. Shashua said, "There is a proceeding taking place that will soon be finished, I hope successfully."

Published by Globes [online], Israel Business News - - on August 17, 2017

© Copyright of Globes Publisher Itonut (1983) Ltd. 2017

Amnon Shashua Photo: PR
Amnon Shashua Photo: PR
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