Intel: buys Israeli mobility platform Moovit

(CercleFinance.com) - Intel has bought Israel-based mobility platform company Moovit for approximately 900 million dollars, the US chipmaker said late on Monday, seeking to expand its autonomous driving business, Mobileye.


Moovit is known for an urban mobility application that offers travelers multimodal trip planning by combining public transportation, bicycle and scooter services, ride-hailing, and car-sharing.

The acquisition helps Intel's Mobileye to make progress towards its plan to become a complete mobility provider, including robotaxi services, which is forecast to become an estimated 160 billion dollar market by 2030.

Moovit - a mobility-as-a-service (MaaS) firm - was founded in 2012 and has approximately 200 employees in Tel Aviv.

Mobileye will use Moovit's large transportation dataset to optimize predictive technologies based on customer demand and traffic patterns, Intel said.

The deal follows a string of mobility-related acquisitions by Intel in recent years, including Mobileye in 2017.

Since then, Mobileye revenues have more than doubled.

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