ChargePoint Acquires Electrification Solution Provider ViriCiti For €75M

Electric vehicle (EV) charging network company ChargePoint Holdings Inc CHPT has acquired ViriCiti, a provider of electrification solutions for eBus and commercial fleets, for €75 million in cash.
The ViriCiti team, customer accounts, and technology will become part of ChargePoint's operations. ViriCiti has more than 50 employees in the Netherlands and the U.S.
ViriCiti will help integrate information sources to optimize electric fleet operations, including battery management, charging station monitoring, OEM-agnostic telematics, vehicle maintenance, and vehicle operations data.
ChargePoint held $609.8 million in cash and equivalents as of April 30, 2021.
Price Action: CHPT traded higher by 0.31% at 26.1 on the last check Wednesday.