By Israel Hayom
Computing giant Intel is preparing to acquire Israel’s “urban mobility” public transportation app Moovit, the Globes business daily reported Sunday.
The VC arm of Intel is already a shareholder in Moovit, which was founded in 2011.
Moovit has attracted the attention of major Israeli startup players. Mobileye founder and CEO Amnon Shashua (which Intel acquired in 2017) is a member of Moovit’s board of directors. Uri Levin, the founder of the Waze navigation app, serves as company chairman.
The deal, reported to be for some $1 billion, has yet to be finalized, and neither Intel nor Moovit was commenting on Sunday.