Intel acquires Israeli Urban Mobility startup Moovit for around $900 million

Intel acquires Israeli Urban Mobility startup Moovit for around $900 million

Intel has now acquired Moovit, an Israel based Mobility-as-a-Service (MaaS) solution firm for around $900 million.

Moovit is founded by Amnon Shashua in the year 2013. It is a Mobility-as-a-service (MaaS) platform and offers an urban mobility multimodal trip planning application. The application offers public navigation and transit data to simplify urban mobility in 3100 cities across the globe. The company has around 200 employees working across the globe.

Executive Opinion

Bob Swan, Intel CEO, said, "Intel’s purpose is to create world-changing technology that enriches the lives of every person on Earth, and our Mobileye team delivers on that purpose every day. Mobileye’s ADAS technology is already improving the safety of millions of cars on the road, and Moovit accelerates their ability to truly revolutionize transportation – reducing congestion and saving lives – as a full-stack mobility provider."

Professor Amnon Shashua, CEO of Mobileye, said, "Moovit’s massive global user base, proprietary transportation data, global editors community, strong partnerships with key transit and mobility ecosystem partners, and highly skilled team is what makes them a great investment. Moovit is a strong brand trusted by hundreds of millions of people globally. Together, with Mobileye’s extensive capabilities in mapping and self-driving technology, we will be able to accelerate our timeline to transform the future of mobility."

Intel's Moovit acquisition

The acquisition of Moovit allows Intel Mobileye to become a complete mobility partner including Robotaxi services, notes the announcement. Mobileye will now able to use Moovit’s large transportation dataset to optimize predictive technologies based on traffic patterns and customer demand.

It will also help Mobileye to enter into its transit data repository of more than 7500 key transit operators and agencies, and improve the consumer experience for more than 800 million users across the globe.

Upon closing the deal, Moovit will join the Mobileye business. Movit will continue with its own brand and existing partnership.

PC: Pixabay

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Udit Agarwal is a Digital Marketer and a Content Marketing Specialist, He enjoys technical as well as non-technical writing. His passion and urge for gaining new insights on gadgets, smartphones and technology has led him to Techsutram. He quenches his thirst for technology through his action oriented writing skills and a profound ability to stay up to date with latest industry trends.

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