Intel buys Moovit transit app for $900 mn to develop self-driving robotaxis

Moovit will remain independent while its technology and the data it collects from more than 800 million users in 102 countries will be integrated into Intel's autonomous car unit Mobileye

Chipmaker Intel Corp has bought Israeli public transit app maker Moovit for about $900 million to help it develop self-driving "robotaxis" that could take to the streets in early 2022, the company said on Monday.

Moovit will remain independent while its technology and the data it collects from more than 800 million users in 102 countries will be integrated into Intel's Israel-based autonomous car unit Mobileye.

The price paid was nearly twice the $500 million valuation when Moovit last raised money in 2018. Intel owned about 7% of Moovit through a previous equity investment and paid about $840 million in