The global technological solution provider Intel Corp is in advanced talks to acquire Israeli public transit app developer Moovit for $1 billion.
Earlier Moovit has raised $133 million from investors including Intel, BMW iVentures and Sequoia Capital. Moovits free mobile navigation app provides transit information to more than 750 million users in 100 countries. Moovit has launched an emergency mobilization service, which was created for transit agencies and enterprises during the COVID-19 pandemic.
The prominent acquisitions and deals by Intel are mentioned below:
- April 2020: Intel announced an additional $50 million for pandemic response technology initiative to combat the coronavirus. It helps to accelerate the access to technology at the point of patient care, speeding scientific research and ensuring access to online learning for students.
- December 2019: Intel Corporation, had acquired Israel-based Habana Labs for $2 billion. Habana Labs is a leading developer of programmable deep learning accelerators for data center. The acquisition will strengthen Intels artificial intelligence (AI) portfolio. As per Intel, the AI silicon market expects to be more than $25 billion by 2024.
- December 2019: Intel Corporation completed the sale of the majority of its smartphone modem business to Apple.
- September 2019: Intel collaborated with Oracle, for high-performance capabilities of Intel Optane DC persistent memory into its next-generation Exadata platform, Oracle Exadata X8M.
- April 2019: Intel announced a strategic partnership with Google Cloud to help enterprise customers seamlessly & deploy applications across on-premise and cloud environments.
Intel, headquartered in California, USA, is shaping the data-centric future with artificial intelligence (AI) portfolio and communications technology. Intel Corporation develops technologies that provide a seamless experience across multiple platforms, such as cloud, data center, PC, and IoT. The companys engineering capability helps secure, power, and connect billions of devices through smart infrastructure