Intel acquires transit startup Moovit for $900 million

Intel has announced its plans to acquire Moovit, an Israel-based transit data startup for $900 million. With the acquisition, Intel hopes to cement its position in the mobility and autonomous driving industry.

In case you don’t know, Moovit is a transit data startup that focuses primarily on public transport. The app helps users to plan trips by “combining public transportation, bicycle and scooter services, ride-hailing, and car-sharing.” Moovit has established itself as a leading brand in the MaaS industry with over 800 million users and services in 3,100 cities across 102 countries.

Moovit is not the first company that Intel has acquired to establish itself in the autonomous driving industry. In 2017, Intel acquired Mobileye, another Israel-based startup that specializes in chips for autonomous vehicles.

Nir Erez, Moovit co-founder said:

We are excited to join forces with Mobileye and lead the future revolution of new mobility services. 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. We share this vision and look forward to making it a reality as part of Mobileye.

Intel considers Mobileye and Moovit as just a part of a bigger puzzle in its dream of rolling out a fleet of robotaxis in the future, in adition to other mobility services.