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Intel acquires transit data startup Moovit for $900 million

Intel acquires transit data startup Moovit for $900 million

Intel moved deeper into the world of smart mobility and autonomous driving by announcing Monday its plan to acquire Israel-based urban transit data startup Moovit for $900 million.

Moovit’s principle product is an urban mobility app with a particular focus on public transportation, which is used by hundreds of millions of customers. It uses public transit data to provide route planning in the vein of Google’s and Apple’s mapping apps, as well as scooter- and bike-sharing services and ride-hailing companies like Uber and Lyft. But because it relies partly on crowdsourced data, Moovit can also provide routing for areas where no publicly released data is available. The app is used by 800 million customers and services 3,100 cities across 102 countries, Intel said.