Intel in Talks to Acquire Israeli Startup Moovit for $1 Billion
Following its purchase of Mobileye in 2017, Intel will be well placed to manage urban transportation around the globe
Meir Orbach | 13:59 03.05.2020
Tech giant Intel has a new Israeli acquisition in its sights and is in talks to purchase public transit app developer Moovit App Global Ltd. for $1 billion. Founded in 2012 and based in Ness Ziona, a town in central Israel, Moovit has raised $133 million to date from companies like BRM Capital, Hanaco, BMW i Ventures, Sequoia Capital Israel, and Vintage Investments Capital. Intel has made some significant acquisition of Israeli companies in the past, most notably Mobileye, which it acquired for $15.3 billion in March 2017. The Acquisition of Mobileye is related to the Moovit deal enabling the formation of a large entity in control of vast amounts of data, capable of managing urban transportation.