Intel acquires Moovit for $900 million

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Intel has acquired Moovit, a public transit app company, for approximately $900 million. Upon close, Moovit will join its Mobileye business, said Intel in a statement. Moovit’s consumer applications and user experience will continue under its own brand.

Moovit was founded in 2012 and is based in Tel Aviv, Israel, with approximately 200 employees. The company combines information from public transit operators and authorities with information from its user community to provide a real-time best route for commuters, according to Intel.

Moovit has more than 800 million users and services in 3,100 cities across 102 countries. The company has a transit data repository of 7,500+ key transit agencies and operators, says Intel.

The addition of Moovit brings Intel’s Mobileye closer to achieving its plan to become a complete mobility provider, including robotaxi services, which is forecast to be an estimated $160 billion opportunity by 2030, says Intel.

[Image courtesy: Intel]