Intel Acquires Moovit to Accelerate MaaS Offering

Two days ago, Intel officially announced the acquisition of the Israeli company Moovit for approximately US$900 million. Moovit provides mobility-as-a-service (MaaS) solutions in partnership with companies such as Uber, Microsoft, TomTom and Cubic. 

Moovit is known for offering users the optimal multimodal trip planning by combining different transportation methods, including bicycle, public transportation, scooter services, car-sharing and ride-hailing applications. Moovit is a leading company in the MaaS segment with more than 800 million users in 3,100 cities across 102 countries. 

The company based in Tel Aviv, Israel, was founded in 2012. Crossing data from public transit operators, live users and local authorities provides users with real-time information to make traveling more efficient. According to Intel, over the last two years, Moovit increased its users sevenfold. Intel Mobileye's will now access Moovit's transportation datasets on traffic patterns and demand, including transit data of more of 7,500 key transit agencies and operators.

The acquisition will strengthen Intel's Mobileye project to become a complete mobility provider, including an upcoming robotaxi service, a market that by 2030 will be worth US$160 billion, according to Intel. “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,” said Bob Swan, Intel’s CEO, in a statement. 

Intel's Mobileye project is one of the leading automotive solutions that integrates advanced driver-assistance systems (ADAS) in more than 60 million vehicles. “Mobileye’s ADAS technology is already improving the safety of millions of cars on the road and Moovit accelerates its ability to truly revolutionize transportation – reducing congestion and saving lives – as a full-stack mobility provider.” said Swan. 

MaaS solutions integrate all transportation options under a single interface where the user can choose its preferred option to move from one point to another, within or between cities. Data and telecommunications play an important role in the development of the MaaS' market. "Intel is betting on Mobileye to become the leader in this segment. Mobileye is a growth engine for Intel as the company transforms for a world where the exponential growth of data fuels demand for technology solutions that can process, move and store more data faster. Intel is investing and expanding to serve new data-rich market opportunities," said the company in a statement. Combined, ADAS, data and MaaS markets will be worth US$230 billion by 2030.