IMC Newsdesk

Intel boosts Mobileye with Moovit buy

  • May 13, 2020
  • William Payne

William Payne
May 13, 2020

Moovit is a Mobility-as-a-Service (MaaS) platform company best known for its mobile application that provides public transit and navigation data to simplify urban mobility in 3,100 cities around the world. Intel Corporation announced on May 4, 2020, that it would acquire the company. The app experience will not change and the company will continue to serve users, customers and partners with the exceptional level of service, professionalism and dedication they’ve come to expect. (Credit: Moovit)

Intel has acquired Israeli mobility as a service (MaaS) firm Moovit for approximately $900 million. Moovit is known for an urban mobility application allowing multimodal journey planning that can combine public transport, public bike and scooter services, ride-hailing, and car-sharing. The acquisition will boost Intel’s Mobileye MaaS offering, and move it closer to being a complete mobility provider.

Moovit has more than 800 million users and services in 3,100 cities across 102 countries. Intel Mobileye advanced driver-assistance systems (ADAS) are deployed in nearly 60 million vehicles with more than 25 car maker partners.

Moovit was founded in 2012 and is based in Tel Aviv, Israel, with approximately 200 employees. In the past 24 months, Moovit has increased its user base seven-fold. The company has signed strategic partnership agreements with major ride-sharing operators and mobility ecosystem companies for analytics, routing, optimisation and operations for MaaS. 

With this acquisition, Mobileye will be able to use Moovit’s large proprietary transportation dataset to optimise predictive technologies based on customer demand and traffic patterns, as well as tap into Moovit’s transit data repository of more than 7,500 key transit agencies and operators, and improve the consumer experience for more than 800 million users worldwide. Moovit’s consumer applications and user experience will continue under its own brand.

“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,” said Nir Erez, Moovit co-founder and CEO. 

“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,” said Professor Amnon Shashua, CEO of Mobileye. 

“Mobileye’s ADAS technology is already improving the safety of millions of cars on the road, and Moovit accelerates their ability to truly revolutionise transportation – reducing congestion and saving lives – as a full-stack mobility provider,” said Bob Swan, Intel CEO.