Big buys are usually seen from afar. In this case, the details of it were advanced to the official confirmation. But now we already know that Intel buys Móovit officially.
The price, at least in the first indications, closed at 1,000 million dollars; the silence on both sides neither confirmed nor denied the amount. The reality is that the official confirmation has reduced the operation by 100 million. In this way, Intel buys Móovit for approximately 900 million – none of the companies dares to give the specific information.
As we explained in Hypertextual, one of the objectives of the purchase was to complement the Intel portfolio in terms of mobility.
At the moment, they report, companies will operate together but will maintain their existing brands and partnerships. In other words, the agreement between Moovit and Wondo – a mobility company in Spain owned by Ferrovial – remains operational.
For now, they report, the companies will operate together but will maintain their existing brands and partnerships. In other words, the agreement between Moovit and Wondo – a mobility company in Spain owned by Ferrovial – remains operational.
The complicated race for autonomous mobility
Already 2017, Intel took over the capital of another Israeli company, Mobileye, dedicated to creating systems to make almost any car an autonomous vehicle. And in 2018, the conjunction of Intel with Mobileye decided to participate in a round of D-series financing, for $ 50 million, from Moovit – also from Israel and dedicated to analyzing urban mobility data.
The idea seemed clear: Intel was preparing to make its mobility area much stronger with players who already had field experience. That is, Moovit, entering the Mobileye structure, would point to the strategy of turning Intel into a 360 mobility agent for its idea of creating autonomous taxis before 2030.
Intel wants to reach 2030 with a whole fleet of fully operational autonomous cars
A business that, according to their data, is estimated at 160,000 million dollars. And that of course is the goal of a large number of technology companies. Intel is not alone in its search for the autonomous taxi. Uber works to launch its own fleet before 2021 – although it is not clear that it will reach the indicated date – of almost 24,000 Volvos. For its part, Google has also taken steps along this line with Waymo, which is already in the pilot phase in the United States. Tesla has also positioned itself as one of the candidates to dominate the future of shared autonomous mobility.
“Mobileye’s advanced driver-assistance systems (ADAS) technology is already improving the safety of millions of cars on the road, and Moovit is accelerating its ability to truly revolutionize transportation by reducing congestion. and saving lives, as a full mobility provider, ”explains Bob Swan, CEO of Intel in a statement. That is, the inclusion of the data company provides that point that Intel was missing for its autonomous car technology solution. To process, move and store data from mobility logics and wait prepared before its deadline: 2030.
“Moovit’s massive global user base, proprietary transportation data, global publisher community, strong associations with the transit ecosystem and mobility and the highly skilled team is what makes it a great investment, ”adds Amnon Shashua, CEO of Mobileye.
👇 More in Hypertextual