Intel Corporation announced it has acquired Moovit, a mobility-as-a-service (MaaS) solutions company, for approximately $900 million ($840 million net of Intel Capital equity gain). Moovit is known for its urban mobility application that offers travelers around the world the multimodal trip planning by combining public transportation, bicycle and scooter services, ride-hailing, and car-sharing. The addition of Moovit brings Intel\u2019s Mobileye closer to achieving its plan to become a complete mobility provider, including robotaxi services, which is forecast to be an estimated $160 billion opportunity by 2030.<\/p>\n\n\n\n
\u201cIntel\u2019s purpose is\nto create world-changing technology that enriches the lives of every person on\nEarth, and our Mobileye team delivers on that purpose every day,\u201d said Bob\nSwan, Intel CEO. \u201cMobileye\u2019s ADAS technology is already improving the safety of\nmillions of cars on the road, and Moovit accelerates their ability to truly\nrevolutionize transportation \u2013 reducing congestion and saving lives \u2013 as a\nfull-stack mobility provider.\u201d<\/p>\n\n\n\n
\u201cMoovit\u2019s\nmassive global user base, proprietary transportation data, global editors\ncommunity, strong partnerships with key transit and mobility ecosystem\npartners, and highly skilled team is what makes them a great investment,\u201d said\nProfessor Amnon Shashua, CEO of Mobileye. \u201cMoovit is a strong brand trusted by\nhundreds of millions of people globally. Together, with Mobileye\u2019s extensive\ncapabilities in mapping and self-driving technology, we will be able to\naccelerate our timeline to transform the future of mobility.\u201d<\/p>\n\n\n\n
With this\nacquisition, Mobileye will be able to use Moovit\u2019s large proprietary\ntransportation dataset to optimize predictive technologies based on customer\ndemand and traffic patterns, as well as tap into Moovit\u2019s transit data\nrepository of more than 7,500 key transit agencies and operators, and improve\nthe consumer experience for more than 800 million users worldwide. Moovit\u2019s\nconsumer applications and user experience will continue under its own brand.<\/p>\n\n\n\n
\u201cWe\nare excited to join forces with Mobileye and lead the future revolution of\nnew mobility services,\u201d said Nir Erez, Moovit co-founder and CEO. \u201cMobility is\na basic human right, and as cities become more crowded, urban mobility becomes\nmore difficult. Combining the daily mobility habits and needs of millions of\nMoovit users with the state-of-the-art, safe, affordable and eco-friendly\ntransportation enabled by self-driving vehicles, we will be able to make cities\nbetter places to live in. We share this vision and look forward to making it a\nreality as part of Mobileye.\u201d<\/p>\n\n\n\n
Intel\nacquired Mobileye in 2017. Since then, Mobileye revenues have more than doubled\non the increased adoption of ADAS based on Mobileye\u2019s industry-leading\ntechnology. Mobileye\u2019s vision-safety technology aims to make roads safer,\nreduce traffic congestion and save lives. Mobileye provides a complete\nautonomous vehicle solution stack that is technically advanced, provides\nunmatched agility and safety, and copes with a wide variety of driving\ncomplexities.<\/p>\n\n\n\n
Mobileye\u2019s\nbusiness model encompasses the entire automated driving value chain, including\nthe front-facing camera that powers most of today\u2019s ADAS, conditional autonomy\n\u2013 also known as level 2+ \u2013 and the self-driving system (SDS) for self-driving\nshuttles and robotaxis as well as consumer autonomous vehicles (AVs). Mobileye\nhas strong performance in every one of these categories with advanced vision\nsensing technology, crowd-sourced mapping capability (REM) and the\nResponsibility-Sensitive Safety (RSS) driving policy.<\/p>\n\n\n\n
By working\ntogether as part of Intel and Mobileye, Moovit will advance the company\u2019s MaaS\nstrategy and the global adoption of autonomous transportation.<\/p>\n","protected":false},"excerpt":{"rendered":"
With this acquisition, Mobileye will be able to use Moovit\u2019s large proprietary transportation dataset to optimize predictive technologies based on customer demand and traffic patterns, as well as tap into Moovit\u2019s transit data repository of more than 7,500 key transit agencies and operators.<\/p>\n","protected":false},"author":8,"featured_media":3026,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[9619],"tags":[695,1336,1338,888,1337,1339,1341],"contributor":[],"class_list":["post-2993","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-top-stories","tag-acquisition","tag-intel","tag-maas","tag-mobility","tag-moovit","tag-robotaxi","tag-transportation"],"featured_image_src":"https:\/\/techxmedia.com\/en\/wp-content\/uploads\/2020\/05\/Intel-Logo-Slogan-Tagline-e1588671017880.jpg","author_info":{"display_name":"Rabab","author_link":"https:\/\/techxmedia.com\/en\/author\/rabab\/"},"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t