Intel acquires Moovit to accelerate Mobileye’s mobility-as-a-service offering
Intel Corporation announced it has acquired Moovit, a mobility-as-a-service (MaaS) solutions company, for approximately $900 million ($840 million net of Intel Capital equity gain). The company is known for its urban mobility application that offers travelers around the world multimodal trip planning by combining public transportation, bicycle and scooter services, ride hailing, and carsharing.
“Intel’s purpose is to create world-changing technology that enriches the lives of every person on Earth, and our Mobileye team delivers on that purpose every day,” said Bob Swan, Intel CEO. “Mobileye’s ADAS technology is already improving the safety of millions of cars on the road, and Moovit accelerates their ability to truly revolutionize transportation—reducing congestion and saving lives—as a full-stack mobility provider.”
Moovit has more than 800 million users and services in 3100 cities across 102 countries. According to the company, Mobileye is the leading automotive solutions partner that enables advanced driver-assistance systems (ADAS) deployed on nearly 60 million vehicles with more than 25 automaker partners. Upon close, Moovit will join the Mobileye business but will retain its brand and existing partnerships.
“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,” said Amnon Shashua, CEO of Mobileye. “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.”
Moovit was founded in 2012 and is based in Tel Aviv, Israel, with approximately 200 employees. It combines information from public transit operators and authorities, with live information from the user community to offer travelers a real-time picture of the best route for their journey. The company says it has signed strategic partnership agreements with major ride-sharing operators and mobility ecosystem companies for analytics, routing, optimization, and operations for MaaS. With this acquisition, Mobileye plans to use Moovit’s large proprietary transportation dataset to optimize predictive technologies based on customer demand and traffic patterns, as well as tap into its transit data repository of more than 7500 key transit agencies and operators, and improve the consumer experience. Moovit’s consumer applications and user experience will continue under its own brand.
Intel acquired Mobileye in 2017. The company’s vision-safety technology aims to make roads safer, reduce traffic congestion, and save lives. Its business model encompasses the entire automated driving value chain, including the front-facing camera that powers most of today’s ADAS, conditional autonomy (Level 2+), and the self-driving system (SDS) for self-driving shuttles and robotaxis, as well as consumer autonomous vehicles (AVs). The company says it has strong performance in every one of these categories with advanced vision sensing technology, crowd-sourced mapping capability (REM), and the Responsibility-Sensitive Safety (RSS) driving policy.
For more information, visit intel.com.