Photo Credit: Nati Shohat / Flash 90
Tech giant Intel Corp. is reportedly in the final stages of a $1 billion deal to acquire Israeli startup Moovit, a company that uses artificial intelligence and big data analytics to track traffic and transit to provide route recommendations to some 800 million consumers around the globe.
A spokesperson from Moovit declined to comment when contacted by Inventiva.
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However, sources who spoke with the news outlet said the startup is slated to become part of Intel’s Israeli automotive hub, which is anchored by autonomous driving firm Mobileye.
Intel acquired Mobileye in 2017 for $15.3 billion, the biggest acquisition deal in Israel at the time.
Intel Capital has previously backed Moovit in a strategic investment, according to Inventiva.
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