Huge acquisition for Intel in Israel will pay $ 900 million for Moovit with 775 million users

Another huge acquisition for Intel in Israel: The company signed a deal with Mobite on Monday. The public transport travel app, with 775 million users worldwide, operates in 45 languages, in 3100 cities located in 102 countries. The value of the transaction is estimated at $ 900 milion.
In its early years, Mobit focused on free end-user service, but in recent years its business model has expanded. As part of the new model, Mobit offers its various cities and authorities technology as an infrastructure through which they can map and improve their public transport systems.
Mobit was founded by Nir Erez, who has been CEO of the company since its inception, Roi Bik and Yaron Evron. The center of the company is located in Ness Ziona and employs approximately 215 people. It is estimated that the company intends to distribute the amount received over $ 1 billion - about 100-200 $ 1 million - among its employees, according to their seniority.
Investors in Israeli society include the Israeli investment fund of the Barak family of BRM, Uri Levin of the founders of Wise, Sequoia Capital, Hanko Ventures of Alon Lifshitz, Vintage of Alan Peled, Sound Ventures of Ashton Kutcher, Weizera and Gemini And the German car giant BMW. One of the leading investors in Mobit is the Intel Capital Fund.
In fact, this is the second time Intel is acquiring a company in which it is invested. In recent years, Intel has become the most significant buyer in the Israeli economy of technology companies. Intel's acquisition spree brought two major acquisitions - the Mobilai deal and the Habana Labs deal. Company shareholders: Sequoia Capital (24%), (BRM (16%, Gemini (16%), Nir Erez (9%) Intel Capital (7%), Vizra (7%), Roy Bick (6%) ), Nokia (4%), Yaron Evron (2%), Uri Levin 2%, Hanko (2%), Vintage (2%) and BMW (1%).
In March 2017, Intel bought the chip maker from Mobilai for about $ 15.3 billion, a deal that followed Mobilai and its founder, Prof. Amnon Amusement, to become Intel's leading autonomous automotive hub. Amusement even joined Mobit in 2018 as a consultant. Last year, Intel bought the artificial intelligence chip company Habana Labs, which was set up by Avigdor Willenz for about $ 2 billion.