Intel has acquired Moovit, the mobility-as-a-service (MaaS) solutions company, for approximately $900 million ($840 million net of Intel Capital equity gain).
Moovit is known for its urban mobility application that allows travellers to combine public transportation, bicycle and scooter services, ride-hailing and car-sharing.
The addition of Moovit is part of Intel’s strategic plan to become a complete mobility provider. Moovit will join Intel's Mobileye business while retaining its brand and existing partnerships.
Moovit has established leadership in the MaaS space with more than 800 million users and services in 3,100 cities across 102 countries. Intel’s, Mobileye is the leading automotive solutions partner that enables advanced driver-assistance systems (ADAS) deployed on nearly 60 million vehicles with more than 25 automaker partners.
Based in Tel Aviv, Israel, Moovit combines information from public transit operators and authorities with live information from the user community to offer travelers a real-time picture of the best route for their journey. In the past 24 months, Moovit has achieved a seven-fold increase in users. Moovit has also signed strategic partnership agreements with major ride-sharing operators and mobility ecosystem companies for analytics, routing, optimization and operations for MaaS.
Bob Swan, Intel CEO said: “Moovit accelerates our ability to truly revolutionize transportation – reducing congestion and saving lives – as a full-stack mobility provider.”
Professor Amnon Shashua, CEO of Mobileye said: “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.”
CEO and co-founder of Moovit Nir Erez will join Mobileye’s executive team as an executive vice president.