Intel is in talks to acquire public transit app developer Moovit for USD 1 billion. The brand provides free mobile navigation app provides transit information to more than 750 million users in 100 countries.

Intel has made significant investments already in Israel, having acquired autonomous vehicle technology provider Mobileye for USD 15.3 billion in 2017. In December it bought Israeli artificial intelligence firm Habana Labs for USD 2 billion. The sources have stated that Moovit will become part of Intel's Israeli automotive hub which is anchored by Mobileye. The report said that Intel Capital previously backed up Moovit in a strategic investment.

Moovit has raised $133 million from investors including Intel, BMW iVentures and Sequoia Capital. 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.

According to a report on Techcrunch, multiple reports from different media sources have gotten in touch with the publication stating that the microchip company is already in its final stages of a deal to acquire Moovit. The startup tracks down traffic and provides transit solutions to more than 800 million people by using big data analytics. The price of the deal is believed to be in the region of USD 1 billion and is expected to close in the next few days.

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