© intel General | May 07, 2020
Intel expands MaaS offerings with purchase of Moovit
Intel Corporation has acquired mobility-as-a-service solutions (MaaS) provider Moovit, for approximately USD 900 million (USD 840 million net of Intel Capital equity gain).
Israeli-based Moovit is an urban mobility application that combines public transportation, bicycle and scooter services, ride-hailing, and car-sharing for travelers around the world. The acquisition will bring Intel’s own MaaS solution, Mobileye, a step closer to becoming a complete mobility provider, including robotaxi services, which is forecast to be an approximately USD 160 billion opportunity by 2030, a press release stated. Intel CEO Bob Swan said, “Intel’s purpose is to create world-changing technology that enriches the lives of every person on Earth, and our Mobileye team delivers on that purpose every day. Mobileye’s ADAS technology is already improving the safety of millions of cars on the road, and Moovit accelerates their ability to truly revolutionize transportation – reducing congestion and saving lives – as a full-stack mobility provider.” At the time of the sale, Moovit’s market share in the MaaS space included more than 800 million users and services in 3,100 cities across 102 countries. For its part, Mobileye’s automotive solutions, which enables advanced driver-assistance systems (ADAS), are deployed on almost 60 million vehicles with more than 25 automaker partners. Founded in 2012, Moovit combines information from public transit operators and authorities with live information from the user community to offer travelers a real-time picture of the best route for their journey. In the past 24 months, Moovit has experienced a seven-fold increase in users, and the company has signed strategic partnership agreements with major ride-sharing operators and mobility ecosystem companies for analytics, routing, optimization, and operations for MaaS. With this acquisition, Mobileye will be able to use Moovit’s large proprietary transportation dataset to optimize predictive technologies based on customer demand and traffic patterns, as well as tap Moovit’s transit data repository of more than 7,500 key transit agencies and operators to improve the consumer experience for its more than 800 million users. Moovit’s consumer applications and user experience will continue under its own brand.