Intel Corp. says it has entered into an agreement to buy Israel’s smart-transit startup Moovit for $1 billion.
Moovit, a free, crowdsourced application that provides real-time information about public transportation schedules, is used by 800 million riders across 102 countries globally, according to the Israeli startup’s website.
Intel had already made a $30 million strategic investment in Moovit, via its venture capital arm in 2018.
Illustrative: The Moovit app running on a phone. (Itamar Sharon)
Moovit’s acquisition follows Intel’s massive buy of Jerusalem-based Mobileye, a maker of self-driving technologies, in 2017 for a whopping $15.3 billion, the largest ever acquisition in Israel. In December, Intel signed a deal to acquire Israeli startup Habana Labs, a Caesarea-based chip maker, for $2 billion, after it originally invested in the firm as part of a Series B funding round.
The acquisition of Moovit, together with that of Mobileye, will enable Intel to tap into a huge amount of data regarding transportation and transit in cities around the world.
— with Shoshanna Soloman
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