05 June 2020
Intel has acquired Moovit, a mobility-as-a-service (MaaS) solutions company for approximately $900 million. Moovit will join forces with Mobileye, a computer vision firm specializing in autonomous cars that Intel acquired back in 2017.
Intel eyes at becoming a complete mobility provider with the help of its acquired companies Moovit and Mobileeye. According to the announcement, Intel also aims to develop robotaxi services, a segment that is forecasted to be an estimated $160 billion opportunity by 2030.
Mobileye enables advanced driver-assistance systems (ADAS) that improves the safety of millions of cars on the road. It has been observed that post acquisition Mobileye revenues have more than doubled on the increased adoption of ADAS. The technology is deployed on nearly 60 million vehicles with more than 25 automaker partners. Mobileye’s mission has always been to make roads safer and reduce traffic congestion and save lives. And, now, together with Moovit, the company will enhance its services even further.
Moovit, on the other hand, is best known for its mobile application that offers public transit and navigation data for simplified urban mobility in 3,100 cities across 102 countries with more than 800 million users.
Nir Erez, Co-founder and CEO of Moovit claims that his company holds a "deep understanding of people’s mobility usage patterns and needs," and together with Mobileye’s self-driving vehicle technology, they will create some “revolutionary” transportation alternatives.
He further stated,
Moovit users, and our partners from all around the world, will have access to a wider range of mobility alternatives to choose from, including multi-modal routes that combine public transit, bikes, scooters, shared-cars, rider-hailing, and (ultimately) Mobileye’s fleets of self-driving vehicles. We will also offer cities better urban mobility insights, powered by Big Data and AI, to help them better understand their citizens’ mobility needs, and match them, in real-time, with the best mobility options.
By working together, Moovit and Mobileye will increase the global adoption of autonomous transportation.
As Intel points out,
With this acquisition, Mobileye will be able to use Moovit’s large proprietary transportation dataset to optimize predictive technologies based on customer demand and traffic patterns, as well as tap into Moovit’s transit data repository of more than 7,500 key transit agencies and operators, and improve the consumer experience for more than 800 million users worldwide.
Meanwhile, Intel is investigating market opportunities so that to fit ADAS and MaaS technologies and expand further. It is currently unknown how the collaborative efforts will lead from here and how the two acquired companies will work together to achieve one single goal. Also, there are no details on the platform or a service that would be an outcome of these collaborative efforts. The goal is clear and that is to revolutionize mobility but how they will make the mobility between destinations safe and efficient is not yet shared.