ViriCiti has been acquired by ChargePoint, an electric vehicle (EV) charging network operating in North America and Europe.
ChargePoint acquired ViriCiti for a total purchase price of approximately €75 million (US$87.9 million) in cash, subject to adjustments. The ViriCiti team, customer accounts and technology will become part of ChargePoint’s operations.
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 a complete set of solutions for electric fleet operators, ensuring success from initial infrastructure buildout to optimization and growth.
“Adding ViriCiti’s vehicle management capabilities to our fleet portfolio allows ChargePoint to deliver more functionality to eBus and commercial fleet operators, while remaining open to integration with existing telematics systems,” said Pasquale Romano, president and CEO of ChargePoint. “The combined solution underscores the importance of software to EV charging and will ensure operational readiness at low cost as fleets of all types across North America and Europe continue to electrify.”
Founded in 2012, ViriCiti today has more than 50 employees in the Netherlands and United States, and established market share in North America and Europe with approximately 150 fleet operators, 3,500 connected vehicles and 2,500 networked ports under management. ViriCiti customers include fleet operators and OEMs, such as Arriva, Berliner Verkehrsbetriebe, Chicago Transit Authority, GILLIG, Keolis, King County Metro, Metropolitan Transit Authority (New York), PicNic, San Francisco Municipal Transportation Authority and Toronto Transit Commission.
“Our mission over the last nine years has been to help fleet operators manage their electric operations. Today, zero-emission transportation is at a tipping point, and we are excited to join EV charging leader ChargePoint, integrate our complementary offerings and tap into the resources that will enable the electrification of fleets at a faster pace across North America and Europe,” said Freek Dielissen, CEO of ViriCiti.
Goldman Sachs & Co. LLC served as exclusive financial advisor to ChargePoint. IMPROVED Corporate Finance B.V. served as the exclusive M&A advisor to ViriCiti and its shareholders.
