Intel announces that it has acquired Moovit for 900 million dollars
Currently there are two industries with a great projection: Artificial intelligence and derivatives, and autonomous vehicles. Intel knows this perfectly well and that is why it is acquiring key companies in these segments. It first acquired Mobileye for autonomous driving and a few months ago I buy Havana Labs. Now the company announces the purchase of Moovit, which develops solutions for urban mobility for about 900 million dollars.
Bob Swan, CEO of Intel, acknowledged that they were wrong to seek to dominate 90% of the market share of processors. The company appears to be changing strategy at full speed by acquiring companies in key segments. And it is that seeking to dominate the processor market has only ended up causing significant stock and supply problems.
Intel Announces Acquisition of Moovit
The purchase of the Moovit companies involves an outlay on the part of Intel, an outlay of 900 million dollars. Moovit is known for being the developer of a popular urban mobility app. This application offers travelers from all over the world an optimization in travel planning. This application is combined with public transport services, bicycles, shared cars or vehicles with a driver.
Intel's purpose is to create world-changing technology that enriches the lives of all people on Earth, and our Mobileye team serves that purpose every day. Mobileye's advanced driver assistance systems 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 complete mobility provider.
Moovit was born in 2012 and is based in Tel Aviv, Israel with 200 workers. Curiously, the Moovit company is also Israeli like Habana Labs. Currently this application has more than 800 million users, it has services in 3100 cities in up to 102 countries.
