Intel has just announced the acquisition of the Israeli company Moovit, specialist in the management of transport routes, for the sum of 1 billion dollars. The acquisition would build on the previous takeover of the autonomous driving company Mobileye. Over the weekend, local newspaper Calcalist said the deal was “very close” to being signed for Intel to buy Moovit App Global Ltd for $ 1 billion.
Moovit software is a mobile travel planning application available on Android and iOS. The application can be used to plan public transport routes in more than 3000 cities and offers maps, timetables, live directions and alerts in case of disruptions reported by users. The application is used by more than 775 million users, including in France.
Moovit has already raised $ 131.5 million over five funding cycles. The last series D cycle took place in February 2018. Previous investors include Intel, BRM Capital, Rainfall Ventures and Gemini Israel Ventures. In March, the Israeli startup made some changes to its business model in light of the drastic reductions in the use of public transportation worldwide caused by the Coronavirus epidemic. The company said its platform can now be used to ensure that medical workers and critical services can access emergency transportation during the crisis.
A complement for Mobileye
The acquisition of this real-time transportation application would complete the Intel Mobileye unit, acquired in 2017 for $ 15.3 billion. Last year, Mobileye boss Amnon Shashua said the autonomous driving business is betting a lot on autonomous “robotaxis”, advanced driver assistance systems (ADAS) and associated data, with particular emphasis. on mobility as a service.