ChargePoint acquires commercial electrification specialist ViriCiti

Network operator ChargePoint (NYSE: CHPT) has acquired ViriCiti, a provider of electrification solutions for commercial fleets. ChargePoint acquired ViriCiti for a total purchase price of €75 million in cash. The ViriCiti team, customer accounts and technology will become part of ChargePoint’s operations.

This is the second acquisition for ChargePoint this month—the company recently acquired European EV technology provider has·to·be.

Founded in 2012, ViriCiti has some 150 fleet operators as customers, including transit agencies serving Berlin, Chicago, New York City, San Francisco and Toronto.

The companies say ViriCiti will enhance ChargePoint’s fleet solution portfolio by integrating information sources to optimize electric fleet operations, including battery management, charging station monitoring, OEM-agnostic telematics, vehicle maintenance and vehicle operations data. The combined solution will enable fleets to identify what routes to electrify, monitor and report on uptime, optimize fueling to ensure operational readiness at low cost, and integrate vehicle and charging station management.

“Integrating charging solutions with the many business systems already in place in today’s [fleet] depots is essential to successful electrification,” said Pasquale Romano, CEO of ChargePoint. “Adding ViriCiti’s vehicle management capabilities to our fleet portfolio allows ChargePoint to deliver more functionality to eBus and commercial fleet operators, while remaining open to integration with existing telematics systems.”

Source: ChargePoint

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