Chipmaker Intel Corp is in advanced talks to acquire Israeli public transit app developer Moovit for US$1 billion, financial news website Calcalist reported on Sunday.
FILE PHOTO: U.S. chipmaker Intel Corp's logo is seen on their"smart building" in Petah Tikva, near Tel Aviv, Israel December 15, 2019. Picture taken December 15, 2019. REUTERS/Amir Cohen/File PhotoTEL AVIV: Chipmaker Intel Corp is in advanced talks to acquire Israeli public transit app developer Moovit for US$1 billion, financial news website Calcalist reported on Sunday.
Moovit’s free mobile navigation app provides transit information to more than 750 million users in 100 countries. Last month it launched an emergency mobilization service, which was created for transit agencies and enterprises during the COVID-19 pandemic. The technology transforms vehicle fleets into an on-demand service to get essential employees safely to work and has been implemented in a number of cities by large corporations.Intel has made significant investments already in Israel, having acquired autonomous vehicle technology provider Mobileye for US$15.3 billion in 2017.
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