Blink Charging Co. has signed a definitive agreement to acquire SemaConnect, Inc., a provider of EV charging infrastructure solutions in North America.
The US$200 million transactions is subject to certain customary adjustments for working capital. In addition to over 13,000 extra EV chargers, 3,800 more site host locations and more than 150,000 registered EV driver members, the cash and common stock transaction will expand Blink's existing network of EV chargers.
With this acquisition, the engineering team at Blink plans to migrate SemaConnect's chargers to a single network. The addition of the SemaConnect technology will hasten Blink's geographic and municipal expansion, including California.
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