Intel Corporation (NASDAQ:INTC) has for long aspired to be one among the front-liners when it comes to autonomous driving. It has today signaled the possibility of receiving a major boost from a vibrant and successful app developer.
Leading sources have it that Intel has already made major headway on its plans to acquire Moovit, which happens to be a transit app developer. If matters go according to plan, it is projected the Intel may be spending about $1 billion in the undertaking. This is a business deal that will bring Moovit under the umbrella of Intel, serving as the company’s Israeli automotive hub. The company looks forward to a near future where it can give a significant boost to its self-driving strategy.
Reporters have recently reached out to Moovit in efforts to get it to comment on the matter. It was an exercise in futility because the reporters couldn’t squeeze out anything from Moovit.
Persons close to the company who wanted their identities concealed said that a deal was going to be closed anytime soon. According to them, it could even be in a matter of days.
There are probably many reasons why Intel would want Moovit asides from the financial support as many would like to believe. The point that the startup employs a mix of data analytics and AI in the monitoring of traffic in real-time is something great. It also can provide transit directions to over 800 million persons.
It is about going for that which is useful for the driverless vehicles and the robotaxis. That is particularly regarding the ability to detect live traffic and get to trudge the fastest routes. An Intel-powered ride is that kind of ride that gets to the required destination in good time, even if it takes avoiding gridlock.
It is surprising the fast-growing numbers of people that are considering using the app for its convenience. It is proving to work effectively for the bus schedules and routes, and many people hope that Intel will be doing some good work with it.