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ChargePoint to acquire European EV technology provider has·to·be for €250 Million

ChargePoint (Nasdaq: CHPT) offers EV drivers access to hundreds of thousands of charging sites in North America and Europe, but the company is more than just a network operator—it’s involved in just about every link in the EVSE value chain.

The next addition to ChargePoint’s empire will be the European e-mobility provider has·to·be, which ChargePoint will acquire for some €250 million in cash and stock. The transaction is expected to close in 2021. The has·to·be team, customers and technology will become part of ChargePoint’s operations.

Founded in 2013, has·to·be has offices in Munich and Vienna, and about 125 employees. Volkswagen is an investor and a key stakeholder. The company has approximately 40,000 networked ports, as well as over 250,000 networked ports through open roaming agreements, and boasts a strong market share in Germany, Austria and Switzerland. The company has over 1,000 customers in a variety of sectors, including Aral, Audi, GP Joule, Ionity and Porsche.

The has·to·be software platform is designed to address the complexity and fragmentation of today’s European charging landscape, and is compatible with widely deployed European charging stations and e-mobility services.

“Customers rely on our charging software platform every day to meet their technical requirements,” said Martin Klässner, co-founder and CEO of has·to·be. “Together with the resources of ChargePoint, we will continue in this spirit and achieve even greater scale as the market continues to expand.”

Pasquale Romano, President and CEO of ChargePoint, said, “As an established leader in North America, our continued investment in Europe is critical to our stated growth strategy. has·to·be [is] a leader in its own right, with a talented team and 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.”

Source: ChargePoint

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