Intel announces purchase of Moovit for US$900 million

Intel has announced the acquisition of Moovit, a mobility-as-a-service (MaaS) solutions company, for approximately US$900 million. The move is meant to help bring Intel’s Mobileye closer to achieving its plan to become a complete mobility provider, including robotaxi services, which the company forecasts to be worth an estimated US$160 billion by 2030.

“Mobileye’s ADAS (advanced driver-assistance systems) 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, CEO of Intel.

Following its acquisition, Moovit will continue to operate independently while its technology and the data gathered from more than 800 million users and services in 3,100 cities across 102 countries will be integrated into Mobileye.

Intel announces purchase of Moovit for US$900 million

The company is known for its urban mobility application that offers travelers around the world (including in Malaysia) the best multimodal trip planning by combining public transportation, bicycle and scooter services, ride-hailing, and car-sharing.

Mobileye will 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 users worldwide.

Acquired by Intel in 2017, Mobileye’s business model encompasses the entire automated driving value chain, including the front-facing camera that powers most of today’s ADAS, conditional autonomy, and the self-driving system for robotaxis as well as consumer autonomous vehicles.