INTEL BUYS MOOVIT APP FOR $900M TO BOOST BET ON ROBOTIC CARS

Intel is buying transportation-planning service Moovit for $900 million as the world’s largest computer chip maker moves further down the road in its effort to build self-driving cars.

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The deal announced this week gives Intel another tool to use in its push to become a major player in the race to create the technology needed to build fleets of taxis that will be able to transport passengers without a human driver behind the wheel.

Moovit, an 8-year-old company based in Israel, makes an app that compiles data from public transit systems, ride-hailing services and other resources to help its 800 million users plan the best ways to get around. Intel plans to combine Moovit with Mobileye, a self-driving car specialist that Intel bought for about $15 billion in 2017.