Intel has acquired mobility-as-a-service (MaaS) solutions company Moovit for approximately US$900m (£723m).
Moovit’s urban mobility application offers travellers around the world multimodal trip planning by combining public transportation, bicycle and scooter services, ride-hailing, and car-sharing.
Upon close, Moovit will join Intel’s Mobileye business, which develops vision-based autonomous and advanced driver-assistance systems (ADAS) providing warnings for collision prevention and mitigation.
According to Intel, the addition of Moovit brings Mobileye closer to achieving its plan to become a complete mobility provider, including robotaxi services.
“Intel’s purpose is to create world-changing technology that enriches the lives of every person on Earth, and our Mobileye team delivers on that purpose every day,” said Bob Swan, Intel CEO.
“Mobileye’s ADAS technology is already improving the safety of millions of cars on the road, and Moovit accelerates its ability to truly revolutionise transportation – reducing congestion and saving lives – as a full-stack mobility provider.”
Intel confirmed that Moovit, which currently has more than 800 million users and services in 3,100 cities across 102 countries, will retain its brand and existing partnerships.
Moovit was founded in 2012 and is based in Tel Aviv, Israel, with approximately 200 employees.
In the past 24 months, Moovit has achieved a seven-times increase in users.
It has also signed strategic partnership agreements with major ride-sharing operators and mobility ecosystem companies for analytics, routing, optimisation and operations for MaaS.
With the acquisition, Mobileye said it will be able to use Moovit’s large proprietary transportation dataset to optimise predictive technologies based on customer demand and traffic patterns.
Furthermore, Mobileye will be able to tap into Moovit’s transit data repository of more than 7,500 transit agencies and operators.
Nir Erez, Moovit co-founder and CEO, said that, by working together as part of Intel and Mobileye, Moovit will advance the company’s MaaS strategy and the global adoption of autonomous transportation.
“We are excited to join forces with Mobileye and lead the future revolution of new mobility services,” said Erez.
“Mobility is a basic human right, and as cities become more crowded, urban mobility becomes more difficult.
“Combining the daily mobility habits and needs of millions of Moovit users with the state-of-the-art, safe, affordable and eco-friendly transportation enabled by self-driving vehicles, we will be able to make cities better places to live in.”
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