ChargePoint to buy VW-backed charging software firm for $295 million
ChargePoint, one of the world’s 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.
Founded in 2013, has.to.be, in which Volkswagen is a minority shareholder, employs 125 people in Austria and Germany. 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.
