Intel buys Moovit transit app for $1.4bn

Marco Green
May 5, 2020

TechCrunch reported that Moovit, which provides a real-time public transit app, will join Intel's Israeli automotive hub that was established by Mobileye as part of the deal, citing sources.

The Santa Clara, Calif. -based company is expected to close on the deal in a matter of days, according to multiple reports that came out over the weekend.

The acquisition of the startup would follow the U.S. tech giant's massive acquisition of Jerusalem-based Mobileye, a maker of self-driving technologies, in 2017 for a whopping $15.3 billion, the largest ever acquisition in Israel.

When the Series D round was announced, Shashu said Moovit would serve as an important complement to Intel's smart mobility work with Mobileye.

Mobileye, by the way, is another Israeli start-up the chipmaker has acquired in recent years, whose technology relates to the cameras found in self-driving cars and which, given the astronomical price tag of this acquisition, is seemingly spearheading Intel's ambitions in the space.

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.

The Moovit app was launched by Erez in February 2012 together with Roy Bick and Yaron Evron. Moovit has raised $133 million (roughly Rs. 1,007 crores) from investors including Intel, BMW iVentures and Sequoia Capital.

Other reports by Click Lancashire

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