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…

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Edison Fu

Edison Fu is a reporter and Asia liaison at Global Corporate Venturing.
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