ChargePoint to buy VW-backed charging software firm for $295 mln
Summary
REUTERS/Christoph Steitz/File Photo FRANKFURT, July 20 (Reuters) - ChargePoint (CHPT.N), one of the worlds largest electric vehicle charging networks, on Tuesday said it has agreed to acquire operating software firm has.to.be for 250 million euros ($295 million) to expand its foothold in the European market. Its software manages more than 40,000 charging points on the continent, with access to 250,000 via roaming agreements. "As an established leader in North America, our continued investment in Europe is critical to our stated growth strategy," ChargePoint CEO Pasquale Romano said. "Our combined assets should position us to accelerate our leadership as electrification continues to take hold across continents." ChargePoints acquisition comes a week after the European Union unveiled a policy package to combat climate change and bring down emissions, with spending on charging infrastructure expected to be 80-120 billion euros by 2040.
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