The Technology team advised Moovit in connection with its sale to Intel Corporation for approximately $900 million ($840 million net of Intel Capital equity gain). The addition of Moovit brings Intel’s Mobileye, a supplier of software that enables Advanced Driver Assist Systems closer to achieving its plan to become a complete mobility provider, including robotaxi services, which is forecast to be an estimated $160 billion opportunity by 2030.
Moovit has established its leadership in the mobility-as-a-service (MaaS) space with more than 800 million users and services in 3,100 cities across 102 countries. The company is known for its urban mobility application that offers travelers around the world the best multimodal trip planning by combining public transportation, bicycle and scooter services, ride-hailing, and car-sharing. Moovit was founded in 2012 and is based in Tel Aviv, Israel, with approximately 200 employees.
The Goodwin team was led by Anthony McCusker, Abbey Cummings and included Crescent Chasteen, Rachel Smith, James Devendorf, Kevin Lam, Kelsey Lemaster, Paul Jin, Jacob Osborn, Jessica Rothstein, Jacqueline Klosek, Garret Gaughan, Federica De Santis, and Justin Pierce.
For additional details on the acquisition, please read Intel’s press release as well as coverage in The Deal, Law360, TechCrunch and The Verge.