ChargePoint Holdings, Inc. (NYSE:CHPT), a U.S. electric vehicle (EV) charging network, has signed a definitive agreement to acquire has·to·be, an Austrian e-mobility provider, with a leading European charging software platform. ChargePoint will acquire the company for a total purchase price of approximately €250 million, subject to adjustments.
The transaction is expected to close in 2021, subject to the satisfaction of regulatory approvals and other customary closing conditions.
Volkswagen is an investor and a key stakeholder in has·to·be, which is headquartered in the federal province of Salzburg, and has offices in Munich and Vienna.
Founded in 2013, has·to·be has 125 employees in Austria and Germany, as well as approximately 40,000 networked ports and over 250,000 networked ports through open roaming agreements.
Pasquale Romano, President and CEO of ChargePoint, says: “As an established leader in North America, our continued investment in Europe is critical to our stated growth strategy. We’re excited to announce our agreement to acquire has·to·be, a leader in its own right with a talented team, an impressive base of customers committed to e-mobility and robust technology. Our combined assets should position us to accelerate our leadership as electrification continues to take hold across continents.”
Martin Klässner, co-founder and CEO of has·to·be, adds: “Over the past eight years, our talented team has helped lead e-mobility in Europe and attracted a large base of leading brands as customers who rely on our charging software platform every day to meet their technical requirements. Together with the resources of ChargePoint, we will continue in this spirit and achieve even greater scale as the market continues to expand.”
ChargePoint account provides access to hundreds-of-thousands of places to charge in North America and Europe. To date, more than 92 million charging sessions have been delivered.