Two years after leading a $50m series D round for the urban mobility app developer, Intel is in the final stages of an acquisition of Moovit priced at approximately $1bn.
Israel-based urban transit app developer Moovit is in talks with chipmaker Intel, an existing shareholder, for an acquisition priced at approximately $1bn, TechCrunch reported yesterday.
The discussions are in the final stages and an agreement is expected to be signed within days.
Moovit has created a real-time transit data app for drivers that relies on both public traffic data and user-generated updates to calculate the most efficient routes.
The information can also be accessed by third parties, such as municipalities…
Thierry Heles
Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.