Hyperdrive
ChargePoint Buys European Charging Firm for $295 Million
- Deal helps ChargePoint expand in fastest-growing EV market
- Electric cars have been more quickly embraced by Europeans
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ChargePoint Holdings Inc. will spend about 250 million euros ($295 million) to buy European e-mobility software company Has.to.be GmbH, expanding the electric car charging network’s presence in one of the world’s fastest growing EV markets.
The planned stock-and-cash transaction is expected to close this year, pending regulatory approval, the two companies said Tuesday. It will be ChargePoint’s first acquisition since the company went public in March, said Chief Executive Officer Pasquale Romano.