May 4, 2020 / 4:04 PM / a month ago

Intel buys Moovit transit app for $900 mln to help develop robotaxis

JERUSALEM, May 4 (Reuters) - Chipmaker Intel Corp has acquired Israeli public transit app developer Moovit for about $900 million to expand its portfolio of self-driving technologies, the company said on Monday.

The deal will help Intel's autonomous driving unit Mobileye develop services like self-driving "robotaxis" by using traffic and public transportation data collected from Moovit's more than 800 million users in 102 countries, Intel said.

"Moovit is an acquisition that fills some very critical gaps that we have going forward," Mobileye CEO Amnon Shashua told Reuters.

Moovit will remain independent and its technology will be integrated with a goal of deploying the first robotaxis in some cities by early 2022, Shashua said.

The announcement confirms a report in Israel's The Marker financial news website on Sunday. (Reporting by Ari Rabinovitch and Tova Cohen)

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