Intel acquires Israeli MaaS solutions company Moovit for $900m

Intel acquisition of Moovit : Intel has acquired Israel-based mobility-as-a-service solutions company (MaaS solutions company) Moovit for about $900 million in a move to help its subsidiary Mobileye in becoming a complete mobility provider.

Moovit developed an urban mobility application that provides travelers across the world with multimodal trip planning by combining public transportation, scooter and bicycle services, car-sharing, and ride-hailing.

The acquisition of Moovit is said to help Mobileye consolidate its offerings, by including robotaxi services, which by the year 2030 is predicted to be an estimated $160 billion opportunity.

The Israeli subsidiary of Intel is engaged in developing vision-based self-driving car and advanced driver-assistance systems providing warnings for prevention and mitigation of collisions.

Commenting on Intel acquisition of Moovit, 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.”

Moovit is said to have over 800 million users and services in 3,100 cities in 102 countries. Intel claimed that Mobileye is one of the top automotive solutions partners which enables deployment of advanced driver-assistance systems (ADAS) on about 60 million vehicles with 25 plus automaker partners.

Moovit will join the Mobileye business while keeping its brand and also existing partnerships.

Nir Erez – Moovit co-founder and CEO, commenting on Intel acquisition of Moovit, said: “We are excited to join forces with Mobileye and lead the future revolution of new mobility services.

“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. We share this vision and look forward to making it a reality as part of Mobileye.”