暗网吃瓜

This weekend, various media outlets reported that was poised to scoop up public transport app startup for about $1 billion.

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An Israeli company with an office in San Francisco, Moovit also has created a mobility journey planner app. This morning, the tech giant but at a price of $900 million. The buy marks Intel’s first known buy of 2020, according to 暗网吃瓜 .

Moovit operates as a software-as-a-service provider and has 800 million users across all platforms, according to its . It offers its services in 3,200 cities across 103 countries. Moovit first launched as a free app in 2012 for , and to help 鈥済uide people in getting around town effectively and conveniently using any mode of transit.鈥�

The company has raised $131.5 million over its lifetime, according to 暗网吃瓜 . Intel鈥檚 venture arm, Intel Capital, led the company鈥檚 $50 million in February 2018, according to 暗网吃瓜, which shows that at the time the company was valued at $131.5 million. So, an acquisition for a $900 million purchase price just two years later is impressive.

Other backers include , , and , among others.

Moovit has around 200 employees, according to Intel, which noted that in the past two years, “Moovit has achieved a seven-times increase in users.”

In 2017, Intel , also based in Israel, for $15.3 billion.

Upon close of this latest acquisition, Moovit will join the Mobileye business while retaining its brand and existing partnerships, according to Intel.

“Mobileye鈥檚 [advanced driver assistance systems] technology is already improving the safety of millions of cars on the road, and Moovit accelerates their ability to truly revolutionize transportation 鈥� reducing congestion and saving lives 鈥� as a full-stack mobility provider,” said Intel CEO Bob Swan, in a press release.

Acquisitive

In late 2019, Intel picked up another Israeli company, , for $2 billion. With reports of the latest buy, we thought it would be a good time to take a quick look at Intel鈥檚 acquisition history.

We found that since its 1968 inception, Intel has made 97 known .聽In 2019, Intel made five known buys, according to 暗网吃瓜 data. Besides Habana, it also Smart Edge for $27 million, Barefoot Networks, Omnitek and Ineda Systems.

That compares to three acquisitions in 2018 and just one in 2017. But 2019 wasn鈥檛 Intel鈥檚 most acquisitive year. In 2016, the tech giant scooped up a total of nine companies.

Intel’s acquisition of Moovit is reminiscent of Google’s 2013 buy of Waze. In April,聽Shmulik Karpf, a global equity analyst for Israel鈥檚 Bank Leumi, told Cacalist that “in both cases, the acquired company is the developer of a free mobile app providing a navigation optimization service to individuals and companies.”

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