Intel’s driving ambitions may soon receive support from a renowned application developer. Informed sources say Intel is close to acquiring Moovit, and the deal is valued at around $ 1 billion.

Upon completion of the transaction, Moovit will become part of the Israeli center for the development of automotive solutions Intel. This acquisition will help in implementing Intel’s overall strategy for introducing self-driving vehicles. Moovit startup is known for using artificial intelligence and big data analysis to track real-time traffic and provide travel recommendations for approximately 800 million people around the world. Developments in these areas may be useful for the services of robotaxi and other self-driving cars. They will be able to take into account current traffic to select the most optimal routes.

So far, representatives of Moovit said that they have nothing to comment on “for the moment.” However, according to sources, the deal may take place in the coming days.

UPDATED: By the end of the day, an official confirmation of the transaction appeared. Intel really bought Moovit for $ 900 million.

Source: itc.ua