Intel buys Israeli urban mobility startup Moovit for $900M

By Associated Press 05 May 2020, 12:00AM

JERUSALEM (AP) — Intel said Monday that it has purchased Israeli urban mobility startup Moovit for $900 million.

The California-based chipmaker said the purchase buttresses its plan to become a “complete mobility provider.”

The acquisition deepens Intel’s reach in Israel, where the company has spent billions buying other companies, and where it has a chip-making factory.

Intel Corp. paid $15 billion in 2017 for Mobileye, an Israeli company at the forefront of autonomous vehicle technology. That purchase created another major player in self-driving technology and strengthened predictions that autonomous cars will someday come in large numbers and change the way people get around.

Moovit will join the Mobileye team, accelerating its "ability to truly revolutionize transportation,” Intel said.

Using information from users and bus and train schedules, Moovit's app provides urban transit solutions, combining public transport schedules and options with taxis, bicycles, electric scooters and more, to provide a comprehensive picture of how best to travel.

“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,” said Nir Erez, Moovit's chief executive.

Moovit has more than 800 million users and services in 3,100 cities across 102 countries, according to Intel.

By Associated Press 05 May 2020, 12:00AM

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