ChargePoint acquires European e-mobility tech provider has·to·be

The EV charging network will pay a total purchase price of approximately €250 million in cash and stock. The transaction is expected to close in 2021.

ChargePoint Holdings, Inc., a leading electric vehicle (EV) charging network operating in North America and Europe, has signed a definitive agreement to acquire has·to·be, an e-mobility provider with a leading European charging software platform, for approximately €250 million.

Under the terms of the agreement, ChargePoint will pay the total purchase price, subject to adjustments, in cash and stock. The transaction is expected to close in 2021, subject to the satisfaction of regulatory approvals and other customary closing conditions.

This transaction comes as Europe is among the fastest-growing markets for EV sales worldwide, say the parties.

The has·to·be team, customers and technology will be part of ChargePoint’s operations. Founded in 2013, has·to·be has approximately 40,000 networked ports and over 250,000 networked ports through open roaming agreements. With a strong market share in Germany, Austria and Switzerland, has·to·be boasts over 1,000 customers in a variety of sectors, from automotive and fleet to oil and gas and energy, including leading brands such as Aral, Audi, GP Joule, Ionity and Porsche. Volkswagen is an investor and a key stakeholder in has·to·be.