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Intel Buys Moovit For $900 Mln

Intel Corp. (INTC) Monday said it acquired Moovit, a mobility-as-a-service solutions company, for about $900 million.

Moovit is an Israel-based start-up that offers travelers around the world the best multimodal trip planning by combining public transportation, bicycle and scooter services, ride-hailing, and car-sharing. The app is currently used by about 800 million people around the world.

Moovit also brings Intel's Mobileye closer to achieving its plan to become a complete mobility provider, including robotaxi services, which is forecast to be an estimated $160 billion opportunity by 2030.

The app experience will not change and the company will continue to serve users, customers and partners with the exceptional level of service, professionalism and dedication they've come to expect, Intel said in a statement.

"Intel's purpose is to create world-changing technology that enriches the lives of every person on Earth, and our Mobileye team delivers on that purpose every day," said Bob Swan, Intel CEO. "Mobileye's ADAS technology is already improving the safety of millions of cars on the road, and Moovit accelerates their ability to truly revolutionize transportation - reducing congestion and saving lives - as a full-stack mobility provider."

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