Intel will acquire Moovit for $1 billion
According to media reports, Intel will acquire Moovit, a developer of public transportation applications, at a transaction price of US $ 1 billion.
Founded in February 2012, Moovit is headquartered in Neszona, Israel, with offices in cities such as San Francisco, Athens, and Rio. It claims to be the world’s largest bus data and analysis company.
The company's product Moovit is a crowdsourcing bus travel navigation application that users can use to quickly query real-time bus information in different countries and cities to understand the best travel methods, best travel routes, and travel time. In addition, Moovit fully integrates platforms such as carpooling, short-term car rental, and shared bicycles to solve the user's travel problems in one stop.
So far, Moovit has received $133 million in financing, and investors include Intel, BMW iVentures and Sequoia Capital.
In response to the above news, neither Intel Israel nor Moovit commented. However, the report quoted sources as saying that the acquisition agreement is about to be signed.
The article is originally written by @SemiMediaEdit posted on SemiMedia. All rights reserved.