Chipmaker Intel is in talks to buy Israeli public transit app developer Moovit for $1 billion, financial news website Calcalist reported.
Moovit has raised $133 million from investors including Intel, BMW iVentures and Sequoia Capital.
Moovit’s free mobile navigation app provides transit information to more than 750 million users in 100 countries.
Moovit last month launched an emergency mobilization service, which was created for transit agencies and enterprises during the COVID-19 pandemic. The technology transforms vehicle fleets into an on-demand service to get essential employees safely to work. Large corporations have implemented the technology in a number of cities.
Intel has made significant investments already in Israel, having acquired autonomous vehicle technology provider Mobileye for $15.3 billion in 2017. Intel in December bought Israeli artificial intelligence firm Habana Labs for $2 billion, Reuters reported.
