Daily Management Review

Intel acquires Israeli Moovit for $ 900M


American Intel Corp., one of the world's leading manufacturers of computer components, announced the acquisition of Moovit Inc., an Israeli mobility technology company, for $ 900 million.

Moovit gained notoriety through an application that helps users build a route by offering information on the availability of public transport, bicycles and scooters, as well as taxi and car sharing services.

The number of Moovit users in the world exceeds 800 million people, the company provides services in 3.1 thousand cities in about 100 countries, Intel said.

Following the closure of the transaction, Moovit will join the Mobileye division, which Intel acquired in 2017 for $ 15.3 billion, betting on the development of unmanned vehicle technology. Mobileye provides products related to unmanned driving, including cameras and automatic driving systems.

source: bloomberg.com