Moovit helps people figure out how to get around cities, and Intel clearly sees a lot of value in such a powerful service. On Monday, Intel announced its purchase of Moovit for $900 million.
The acquisition helps bolster Intel'sdivision, according to the company, and helps create another pillar to position the company as a complete mobility provider. The ultimate goal is a fleet of to autonomously pick up and drop off passengers, and Moovit's transit insights can play a crucial role.
The Moovit app allows anyone to plot a route while factoring in every single transportation option. Anything from a train ride to a rented bike to an electric scooter or a trip in a ride-sharing vehicle -- it's all placed under consideration when Moovit maps things out.
This kind of service requires deep integration of numerous transportation methods, hence why it'd be incredibly valuable to a company like Intel. Amnon Shashua, CEO of Mobileye, said Moovit's user base, transportation data and solid partnerships with transit and mobility partners around the world makes the purchase a great investment. Moving forward, Intel Mobileye wants to integrate Moovit's core competencies to create an entire autonomous car "supply chain," so to speak, under one roof. In the future, the app will be used to enhance fleet operations and create a mobility intelligence platform.
Over the past eight years, Moovit has acquired 800 million users and operates in 3,200 cities. The app's services have helped people get around major global events such as the 2016 Olympic Games.