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Transit data startup Moovit acquired by Intel for $900 million

By Cookie Monster - on 6 May 2020, 12:00am

Transit data startup Moovit acquired by Intel for $900 million

Image source: Intel

Intel is one step closer to achieving its goal to become a complete mobility provider. 

The company announced that it has acquired Israel-based urban transit data startup Moovit for $900 million. Moovit is known for its urban mobility app which has more than 800 million users and services 3,100 cities across 102 countries. 

Moovit's app 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. The startup also signed strategic partnership agreements with major ride-sharing operators and mobility ecosystem companies in the past two years for analytics, routing, optimisation and operations for mobility-as-a-service (MaaS).

Intel hopes to combine Moovit's strengths with Mobileye's extensive capabilities in mapping and self-driving technology to accelerate its timeline to transform the future of mobility. Intel acquired Mobileye in 2017 for $15 billion.

Source: Intel