Intel acquires Moovit to accelerate mobility-as-a-service offering

The addition of Moovit brings Intel’s Mobileye closer to achieving its plan to become a complete mobility provider

May 06, 2020
Intel acquires Moovit to accelerate mobility-as-a-service offering
Image: Intel Corp.

Intel Corp. announced yesterday it has acquired Moovit, a mobility-as-a-service (MaaS) solutions company, for approximately $900 million.

Moovit is known for its urban mobility application that offers multimodal trip planning by combining public transportation, bicycle and scooter services, ride-hailing, and car-sharing. The addition of Moovit brings Intel’s Mobileye closer to achieving its plan to become a complete mobility provider, including robotaxi services, which the company says is forecasted to be an estimated $160 billion opportunity by 2030.

Intel says Moovit has established its leadership in the MaaS space with more than 800 million users and services in 3,100 cities across 102 countries. Mobileye as an automotive solutions partner enables advanced driver-assistance systems (ADAS) deployed on nearly 60 million vehicles with more than 25 automaker partners.

“We are excited to join forces with Mobileye and lead the future revolution of new mobility services,” Nir Erez, Moovit co-founder and CEO, said in a statement. “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.”

Intel acquired Mobileye in 2017. Since then, Mobileye revenues have more than doubled on the increased adoption of ADAS based on Mobileye’s industry-leading technology. Mobileye’s vision-safety technology aims to make roads safer, reduce traffic congestion, and save lives.

By working together as part of Intel and Mobileye, Moovit will advance the company’s MaaS strategy and the global adoption of autonomous transportation.

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SOURCE: Intel Corp.

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