Intel has officially acquired the Israel based public transit navigation app developer, Moovit, for $840M, which doesn’t include Intel’s initial stake in the company for around $60M.
“Specifically, Moovit’s tech will be used to expand and enhance Mobileye’s ‘mobility as a service’ (MaaS) offering, Intel said. Mobileye’s driver assistance technology is in some 60 million vehicles today, and while a lot of autonomous services like ‘robotaxis’ are still in their most nascent phase, the opportunities are big: Intel believes that robotaxis alone will be a $160 billion market by 2030.”
Ingrid Lunden, writer and editor for TechCrunch.
Intel intends to use the technology developed by Moovit to enhance the capabilities of its automotive hub which centers around the autonomous vehicle company, Mobileye.