Urban mobility app Moovit and the company of the same name were bought today by Intel, which intends to use its technology to improve the services of another acquisition, Mobileye, a self-driving car company.

According to TechCrunch, the sale price was US$900 million, but since the company had already invested in Moovit, the amount spent will be US$840 million. It is worth remembering that it was also bought by Intel a few years ago, but for a much higher amount, US$15,3 billion.

The idea is to use Moovit’s technology to expand Mobileye’s mobility-as-a-service (MaaS) product. The partnership between the two companies already existed. Mobileye CEO and CTO, and also Intel senior vice president, Amnon Shashua, was already on Moovit’s board of directors as an observer.

Mobileye’s driver-assistance service is currently in 60 million cars, but the growth potential is much greater. Intel believes the autonomous taxi market could be worth $160 billion by 2030.

Moovit is an excellent app and really useful for anyone who needs to get around in urban centers. The good news for users is that the app should continue to operate independently, even after the sale.

Moovit CEO and co-founder Nir Erez spoke about the sale today in a release. As part of the deal, he will also become executive vice president of Mobileye and one of the vice presidents of Intel. Despite this, he assured that he will maintain his position and functions at Moovit.

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