Intel acquires Israeli MaaS platform Moovit for $900m

Chipmaker Intel has acquired Israel-based mobility-as-a-service (MaaS) solutions company Moovit for nearly $900m.

Founded in 2012, Moovit is known for its urban mobility app that provides public transit and navigation data to users.

The platform provides travellers with real-time traffic data and best journey routes by integrating information and data from public transit operators, authorities and the user community.

It is said to have more than 800 million users in 3,100 cities across 102 countries.

Moovit co-founder and CEO Nir Erez said: “Mobility is a basic human right, and as cities become more crowded, urban mobility becomes more difficult.

“Combining the daily mobility habits and needs of millions of Moovit users with the state-of-the-art, safe, affordable and eco-friendly transportation enabled by self-driving vehicles, we will be able to make cities better places to live in.”

Upon completion of the transaction, Moovit will join Intel’s autonomous driving arm Mobileye, retaining its brand name and other partners.

The acquisition is expected to help Mobileye in the development of self-driving technologies as it seeks to introduce autonomous robotaxi services.

Particularly, Mobileye will leverage Moovit’s transportation dataset to optimise predictive technologies based on customer demand and traffic patterns.

Mobileye CEO Amnon Shashua 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.”