Intel to swallow mobility service provider Moovit

Intel to swallow mobility service provider Moovit

Business news |
By Christoph Hammerschmidt

The acquisition of Moovit will enable Mobileye to accelerate its evolution into a full mobility provider. The planned service portfolio includes robotaxi services, which are said to have a market potential of $160 billion  by 2030.

Mobileye is considered a leading supplier of automotive solutions. Driver Assistance Systems (ADAS) from Mobileye are integrated in almost 70 million vehicles. The company cooperates with more than 25 partners from the automotive industry. BMW, for example, relies on Mobileye technology as a central component in the development of its platform for autonomous driving.

With this and similar investments, the company intends to exploit new market opportunities, including the rapidly growing market for driver assistance systems and data and mobility services (MaaS). Together, these technologies represent a market potential of more than 230 billion US dollars by 2030. Upon closing, Moovit will become part of the Mobileye business, but will retain its brand and existing partnerships.

Founded in 2012 and headquartered in Tel Aviv, Moovit employs approximately 200 people. The company combines public transport information with real-time information from the user community to provide travellers with information on optimal route planning. In the last 24 months, the number of Moovit users has increased sevenfold. The company has also signed several strategic partnership agreements, including major ride sharing operators and mobility services ecosystem providers, including analysis, routing, optimization and MaaS.

The acquisition will make Moovit’s extensive mobility data sets available for use by Mobileye. This will enable technologies for predictive traffic planning based on customer demand and traffic patterns to be optimized. In addition, Moovit’s passenger transportation data from more than 7,500 public transportation providers worldwide contributes to the mobility of more than 800 million people worldwide. In addition to public transport, Moovit organizes travel by bike and scooter rental, ride sharing and car sharing – also in combined form.

According to media reports here, around 10 percent of the purchase price of $900 million will go to Moovit employees.

Related articles:

Mobileye plans test fleet of 100 self-driving cars

BMW, Intel, Mobileye to announce “future of driving”

BMW will soon test autonomous cars – with a little help from Intel and Mobileye

“We need standardized criteria for autonomous driving”

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