ChargePoint acquires ViriCiti for $87.9 million

ChargePoint, an electric vehicle charging company based in the United States, announced on Wednesday that it has acquired ViriCiti, a company that provides electrification solutions for eBus and commercial fleets.

This deal was completed at about 75 million euros (US$87.86 million) and is a part of moves by ChargePoint to grow its operations beyond the shores of the US and into Europe.

ViriCiti is based in Amsterdam and is the second acquisition ChargePoint has made in Europe is not up to a month. The US firm previously announced the acquisition of has.to.be, an operating software firm.

“The future of fleets is electric, and integrating charging solutions with the many business systems already in place in today’s depots is essential to successful electrification,” said ChargePoint CEO Pasquale Romano.

As the sale of Electric Vehicles continues to grow across the globe, ChargePoint and other firms in the same sector are seeing fresh opportunities linked to expanding their market reach.