ChargePoint to buy has·to·be for $250m

ChargePoint to buy has·to·be for $250m

Business news |
By Nick Flaherty

ChargePoint has signed a definitive agreement to acquire has·to·be, an e-mobility provider with a leading European charging software platform, for $250m.

The transaction is expected to close in 2021, subject to the satisfaction of regulatory approvals and other customary closing conditions.

Founded in 2013, has·to·be today has 125 employees with approximately 40,000 networked ports and over 250,000 networked ports through open roaming agreements. Headquartered in Salzburg, has offices in Munich and Vienna serving over 1,000 customers, including Aral, Audi, GP Joule, Porsche and Ionity, a competitor to ChargePoint.

ChargePoint will be positioned to benefit from has·to·be’s strong European market share, especially in Germany, Austria and Switzerland. The has·to·be software platform effectively addresses the complexity and fragmentation of the European charging landscape and is compatible with widely deployed European charging stations and e-mobility services. The company is also part of a UK trial to use the utility smart meter network for EV charging.

“Over the past eight years, our talented team has helped lead e-mobility in Europe and attracted a large base of leading brands as customers who rely on our charging software platform every day to meet their technical requirements. Together with the resources of ChargePoint, we will continue in this spirit and achieve even greater scale as the market continues to expand,” said Martin Klässner, co-founder and CEO of has·to·be.

Volkswagen is an investor and a key stakeholder in has·to·be. Elke Temme, Head of Volkswagen Charging & Energy, said, “Our longstanding commitment to e-mobility includes an early investment in has·to·be. We believe ChargePoint and has·to·be together have great potential to drive the adoption of e-mobility.”

California-based Chargepoint is the world’s largest charging network operator with a cloud subscription platform and software-defined charging hardware. It was the first charging network operator to go public last year.

“As an established leader in North America, our continued investment in Europe is critical to our stated growth strategy. We’re excited to announce our agreement to acquire has·to·be, a leader in its own right with a talented team, an impressive base of customers committed to e-mobility and robust technology. Our combined assets should position us to accelerate our leadership as electrification continues to take hold across continents,” said Pasquale Romano, President and CEO of ChargePoint.

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