Intel in Talks to Acquire Smart Urban Transit Firm Moovit for $1B

Chipmaker Intel is in talks to buy mobile transport firm Moovit. The latest move comes after the company acquired autonomous driving company Mobileye in 2017. According to reports, the deal is “very close” to being signed for Intel to purchase Moovit for $1 billion. Moovit has a free mobile navigation app provides public transport in over 3000 cities and offers maps, live directions.

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This will be the second major acquisition in Israel by Intel after it purchased chipmaker Habana Labs for $2 billion at the end of 2019.

Source: https://techcrunch.com/2020/05/03/intel-to-buy-smart-urban-transit-startup-moovit-for-1b-to-boost-its-autonomous-car-division/

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