ChargePoint has agreed to pay $294m to acquire the EV charging station management platform, two years after the latter secured an undisclosed amount from Volkswagen.
Electric vehicle (EV) charging network operator ChargePoint has agreed to acquire Has.to.Be, an Austria-headquartered charging management software provider backed by carmaker Volkswagen, in a €250m ($294m) cash-and-stock deal.
Founded in in 2013, Has.to.Be has developed a software tool that helps enterprise users manage EV charging stations. Volkswagen’s EV charging subsidiary, Elli, acquired a minority stake in the company for an undisclosed amount through a mid-2019 strategic partnership agreement.
US-based ChargePoint’s president and chief executive, Pasquale Romano, said: “As an established leader in North America, our continued investment in Europe is critical to our stated growth strategy.
“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, added: “Together with the resources of ChargePoint, we will continue in this spirit and achieve even greater scale as the market continues to expand.”
