Intel (Nasdaq: INTC) acquired Moovit, a Tel Aviv, Israel-based mobility-as-a-service (MaaS) solutions company, for approximately $900m ($840m net of Intel Capital equity gain).
The addition of Moovit allows Intel’s Mobileye to become a complete mobility provider, including robotaxi services, which is forecast to be an estimated $160 billion opportunity by 2030.
Mobileye will be able to use Moovit’s large proprietary transportation dataset to optimize predictive technologies based on customer demand and traffic patterns, as well as tap into its transit data repository of more than 7,500 key transit agencies and operators, and improve the consumer experience for more than 800 million users worldwide.
Upon close, Moovit will join the Mobileye business while retaining its brand and existing partnerships.
Led by Nir Erez, CEO and co-founder, who will join Mobileye’s executive team as an executive vice president, Moovit is a Mobility-as-a-Service (MaaS) platform company providing a urban mobility application that offers travelers around the world the best multimodal trip planning by combining public transportation, bicycle and scooter services, ride-hailing, and car-sharing. Its application provides public transit and navigation data to simplify urban mobility in 3,100 cities around the world. It has more than 800 million users and services in 3,100 cities across 102 countries.
Founded in 2012, Moovit has approximately 200 employees.