The giant tech company has acquired Moovit, an Israeli-based firm known for its urban mobility, for about $900 million. The firm combines public transportation, bicycle, scooters, and car-sharing services. It also has 800 million users, reaching 3,100 cities in 102 countries. Due to this, it provides one of the best trip planning services for travelers around the world. No wonder that Intel made the move to acquire the company.
Mobilizing with technology
Through its investment, Intel wants to add robotaxis and similar services to its catalog. The projected amount of the project is up to $160 billion by 2030 once this kind of service arises in the global market. CRO Intel Bob Swan shared that “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.”
Also interesting: Intel Tech Meets Shakespeare and the Result Is Great [Video]
Moovit offers travelers the best travel route in real-time with combine data from operators and public transport authorities, as well as live information from its network users. Intel wants to couple this with Mobileye’s focus on autonomous driving technology.
How it works
Back in 2017, Intel acquired Mobileye for $15.3 billion. Mobileyeoffers advanced driver assistance systems that are already in more than 60 million vehicles. These systems include the front camera, conditional autonomy, and autonomous driving support. Moovit’s transportation data system optimizes Mobileye’s predictive technologies to enhance the consumer experience.
Other transport services such as Uber and Didi already have their own autonomous taxi divisions. Autonomous driving is becoming a long-term goal, combining the supports and technologies of Moovit and Mobileye. With this, Intel prepares its tools to stake out its territory in the transit ecosystem and secure a place in the future of mobility.
Photo credit: The photo of the CEO and co-founder of Moovit Nir Erez is owned by Moovit and provided through Intel. All other images used are owned by Intel and have been provided for press usage.