Intel Corporation has confirmed the acquisition of the mobility-as-a-service (MaaS) start-up Moovit for approximately $900 million. Moovit provides public transit and navigation data to simplify urban mobility for more than 800 million users in over 3,000 cities worldwide.
Intel says Moovit will be integrated into its mobility unit Mobileye’s MaaS offering. The start-up was founded in 2012 and is based in Tel Aviv, Israel.
Nir Erez, Moovit’s co-founder and CEO, says: “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.”
Bob Swan, Intel’s CEO, adds: “Mobileye’s ADAS technology is already improving the safety of million of cars in the road, and Moovit accelerates their ability to truly revolutionize transportation – reducing congestion and saving lives – as a full-stack mobility provider.”
Professor Amnon Shashua, CEO of Mobileye, states. “Moovit’s massive global user base, proprietary transportation data, global editors community, strong partnerships with key transit and mobility ecosystem partners, and highly skilled team is what makes them a great investment. 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.”
Intel acquired Mobileye in 2017. Its vision-safety technology aims to make roads safer, reduce traffic congestion and save lives. Mobileye provides a complete autonomous vehicle solution stack that is technically advanced, provides unmatched agility and safety, and copes with a wide variety of driving complexities.