Intel has just announced that it acquired Moovit, a mobility as a service (MaaS) company, for approximately US $ 900 million.
Moovit is known for its urban mobility app that offers travelers around the world the best multimodal travel planning by combining public transportation services, bike and scooter services, car sharing, and transport vehicles with driver through mobile applications. Moovit’s addition brings Intel’s Mobileye closer to achieving its plan to become a full-fledged mobility provider, including robotaxi services, which is projected to have an estimated opportunity of $ 160 billion by 2030.
Moovit Incorporation Brings Intel’s Mobileye Closer to Its Plan to Become a Complete Mobility Provider
Moovit has established its leadership in the MaaS space with more than 800 million users and services in 3,100 cities across 102 countries. Today, Mobileye is a leader in automotive solutions enabling advanced driver assistance systems (ADAS) implemented in nearly 60 million vehicles with more than 25 partner automakers.
Mobileye is a growth engine for Intel as the company transforms to a world where exponential data growth fuels demand for technology solutions that can process, move and store more data faster. Intel is investing and expanding to serve new market opportunities with large amounts of data, including the rapidly growing market for ADAS, data and MaaS technologies, which together represent an opportunity totaling more than $ 230 billion by 2030. One Once the deal is closed, Moovit will join the Mobileye business, maintaining its brand and existing partnerships.
Moovit’s consumer apps and user experience will continue under their own brand.
With this acquisition, Mobileye will be able to use Moovit’s large set of proprietary transportation data to optimize predictive technologies based on customer demand and traffic patterns, as well as leverage Moovit’s transit data repository from more than 7,500 agencies. and key transit operators and enhance the consumer experience for more than 800 million users worldwide. Moovit’s consumer apps and user experience will continue under their own brand.