Drake Star Partners Advises Viriciti On Its Sale To Chargepoint

  • Year
    August/2021
  • Sector
    Mobility & Sustainability Energy Transition
  • Our Mission
    Drake Star Partners were advisors to Viriciti

AMSTERDAM | August 31, 2021 ChargePoint Holdings, Inc., a leading electric vehicle charging network, announced today it has acquired ViriCiti, a leading provider of electrification solutions for eBus and commercial fleets. ChargePoint acquired ViriCiti for a total purchase price of approximately €75 million in cash, subject to adjustments.

ChargePoint operates the largest vehicle charging network in North America, with more than 112,000 charging points globally, along with the pending acquisition of leading Austrian e-mobility technology provider has·to·be, this transaction confirms ChargePoint’s commitment to the electrification of fleet and commercial segments in North America and Europe. This newer deal will strengthen ChargePoint’s portfolio of hardware and vehicle management software for electric fleet customers, as well as add another 2,500 networked ports and 3,500 connected vehicles to its growing portfolio.

ViriCiti will enhance the ChargePoint fleet solution portfolio of hardware, software and services 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. Working with existing systems of record enables ChargePoint to deliver the most complete set of solutions for electric fleet operators, ensuring success from initial infrastructure buildout to optimization and growth.

About Drake Star Partners
 

Drake Star Partners is a global investment banking firm serving the technology, media and communications sectors (TMC) with offices in New York, London, Paris, Munich, San Francisco, Los Angeles, Berlin, Geneva, Singapore* and Dubai*. The firm focuses on M&A and corporate finance for its clients worldwide. Drake Star Partners completed over 400 transactions since 2004, 70% of which are cross-border.

Drake Star Partners is the marketing name for the global investment bank Drake Star Partners Limited and its subsidiaries and affiliates. In the USA, all securities are transacted through Drake Star Securities LLC. In the USA, Drake Star Securities LLC is regulated by FINRA and is a member of SIPC. Drake Star UK Limited (FRN 942020) is an appointed representative of Kession Capital Ltd (FRN582160) which is authorised and regulated by the Financial Conduct Authority. © 2016 Drake Star Partners Limited.

www.drakestar.com

*Partner Offices