Why Intel paid $900 Million for Moovit?
7 May, 2020
Intel's Mobileye is preparing itself to be a Global Mobility Service Provider, and is looking for a much larger market than the in-vehicle systems
On May 4, 2020 Intel Corporation announced the acquisition of Moovit, an Israel-based mobility-as-a-service (MaaS) solutions company, for approximately $900 million. Moovit provides an urban mobility application that offers travelers a multimodal trip planning by combining public transportation, bicycle and scooter services, ride-hailing, and car-sharing.
It was founded in 2012 and is based in Tel Aviv, with approximately 200 employees. The system combines information from public transit operators, authorities and from the user community to offer a real-time picture of the best route for their journey. Moovit’s apps is being used by approximately 800 million users and services in 3,100 cities across 102 countries. It also collects information provided by 7,500 key transit agencies and operators around the globe.
Very impressive, but how this coordination system is relevant for the road map of the biggest semiconductor’s producer in the world? The answer was given in a special post written by Prof. Amnon Shashua is senior VP at Intel and president and CEO of Mobileye, an Intel company from Jerusalem, focused on ADAS and Autonomous Driving. “The future of mobility relies on compute”, he explained. “We are engaged in designing the silicon and algorithms for interpreting sensing data from cameras, radars and LiDARs, and algorithms for decision-making for autonomous cars.”
“Going forward, all this technology will be integrated into a mobility-as-a-service (MaaS) business. We developed a multimodal XaaS strategy that will enable Intel through Mobileye, and now including Moovit, to create a value proposition out of every layer of the solution stack – from the self-driving system as standalone, all the way up to the robotaxi service and experience.”
Although Mooovit will continue its operation as an independent entity, following the acquisition, Mobileye will be able to use Moovit’s large proprietary transportation dataset to optimize predictive technologies based on customer demand and traffic patterns. “With the acquisition of Moovit, we have added a critical piece to our mobility stack and accelerated our way towards becoming a complete mobility provider.” It means that Mobileye is preparing itself to be a Global Mobility Service Provider, and is looking for a much larger market than the in-vehicle systems.
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