Intel has chosen a new growth engine
Confirming preliminary information, Intel announced the acquisition of Moovit, a company specializing in mobility-as-a-service or (MaaS) solutions, for approximately $ 900 million.
Intel buys Moovit
Moovit is known for its urban mobility application, which offers travelers around the world a travel planning function combining public transportation, bicycles and scooters, cycling, and car-sharing. The new purchase complements Intel ’s acquisition of Mobileye for $ 15.3 billion in 2017. According to the relevant press release, she “brings Mobileye closer to the plan to become a full-fledged provider of mobile services, including robotaxi services.” The designated market is projected to reach $ 160 billion by 2030.
Moovit’s most important asset is its MaaS leadership with over 800 million users and services in 3,100 cities in 102 countries. Mobileye, in turn, is a leading partner in automotive solutions, the development of which is used in driver assistance systems (ADAS) of 60 million vehicles from more than 25 car manufacturers. Intel directly calls Mobileye the new growth engine.
Moovit was founded in 2012 in Israel and has approximately 200 employees. After the takeover, she will join the Mobileye business, retaining her brand and existing partnerships, and her co-founder and current CEO, Nir Erez, will become Executive Vice President of Mobileye.
