Intel To Reportedly Acquire Israeli Start-up Moovit For $1 Billion

American tech giant Intel Corp. is in talks to buy Israeli company Moovit – a mobile navigation app that provides real-time public transit information – for $1 billion, according to multiple reports.

Moovit, founded in 2012 and based in Ness Ziona, has raised around $133 million to date from companies like BRM Capital, Hanaco, BMW i Ventures, Sequoia Capital Israel, and Vintage Investments Capital, according to Calcalist.

Moovit, which has over 800 million users, is offered in 3,100 cities and 102 countries, in 45 languages.

Read more at i24NEWS.

{Matzav.com}