Benzinga | Aug 11, 2021 09:41AM EDT

ChargePoint Acquires Electrification Solution Provider ViriCiti For 75M

* Electric vehicle (EV) charging network company ChargePoint Holdings Inc (NYSE:CHPT) has acquired ViriCiti, a provider of electrification solutions for eBus and commercial fleets, for (euro)75 million in cash.

* The ViriCiti team, customer accounts, and technology will become part of ChargePoint's operations. ViriCiti has more than 50 employees in the Netherlands and the U.S.

* ViriCiti will help integrate information sources to optimize electric fleet operations, including battery management, charging station monitoring, OEM-agnostic telematics, vehicle maintenance, and vehicle operations data.

* ChargePoint held $609.8 million in cash and equivalents as of April 30, 2021.

* Price Action: CHPT traded higher by 0.31% at 26.1 on the last check Wednesday.