- Moovit is a Israel-based company known for its urban mobility app that offers travelers multimodal trip plannings;
- The acquisition – $840 million net of Intel Capital equity gain –brings Intel’s Mobileye closer to achieving its plan to become a complete mobility provider.
Intel announced on Monday it had bought Moovit, a mobility-as-a-service (MaaS) solutions company for nearly $900 million. Moovit is a Israel-based company known for its urban mobility app that offers travelers multimodal trip plannings by combining public transportation, bicycle and scooter services, ride-hailing and car-sharing.
The acquisition – $840 million net of Intel Capital equity gain – brings Intel’s Mobileye closer to achieving its plan to become a complete mobility provider, including robotaxi services, which are forecast to generate $160 billion by 2030, according to the company.
According to the company, Mobileye is a growth engine for Intel as the company transforms for a world where the exponential growth of data fuels demand for technology solutions that can process, move and store more data faster.
Intel has acquired it in 2017. Since then, Mobileye revenues have more than doubled on the increased adoption of ADAS [advanced driver-assistance systems] based on Mobileye’s industry-leading technology. By working together as part of Intel and Mobileye, Moovit will advance the company’s MaaS strategy and the global adoption of autonomous transportation.