Intel confirmed Monday that it has acquired an Israeli company, Moovit, that provides transportation planning technology. The deal had been reported in advance by Israeli media.
The chipmaker paid $900 million for Moovit, whose app helps people plan trips around urban areas using public transit, bicycles, scooters and ride-hailing services. Founded in 2012, Moovit employs 200 and says more than 800 million people worldwide use its technology.
Monday’s deal is the latest in a string of Intel purchases of Israeli companies, most recently last fall’s $2 billion deal for Habana Labs. Intel paid $15.3 billion in 2017 for an Israeli self-driving car company, Mobileye.
Intel said it will fold Moovit into Mobileye but retain the Moovit brand.