- Electric vehicle infrastructure company ChargePoint Holdings Inc (NYSE:CHPT) has acquired e-mobility provider has·to·be for about $294 million in cash and stock. (1$ = 0.85 €).
- Volkswagen AG (OTC:VLKAF) is an investor and a key stakeholder in has·to·be.
- The company expects this transaction to close in 2021.
- The has·to·be team has 125 employees in Austria and Germany, and 40,000 networked ports, and over 250,000 networked ports through open roaming agreements.
- ChargePoint expects to benefit from has·to· be’s European market share, especially in Germany, Austria, and Switzerland.
- “Our combined assets should position us to accelerate our leadership as electrification continues to take hold across continents,” said CEO Pasquale Romano.
- The company held $609.8 million in cash and equivalents as of April 30, 2021.
- Price action: CHPT shares are trading higher by 2.77% at $24.12 on the last check Tuesday.
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