Charging network operator Blink Charging has agreed to acquire EVSE manufacturer SemaConnect for $200 million. The deal will add an additional 13,000 chargers, 1,800 site host locations, and more than 150,000 registered members to Blink’s existing footprint.
Blink says the acquisition will enable it to offer “complete vertical integration, from R&D and manufacturing to charger ownership and operation.”
Blink will benefit from SemaConnect’s in-house R&D, hardware design, and manufacturing capabilities. SemaConnect’s manufacturing facility in Maryland will allow Blink to comply with the Buy American requirements of the Bipartisan Infrastructure Law, which is expected to make up to $7.5 billion available to fund public charging.
SemaConnect provides both Level 2 and DC fast chargers, as well as a charging-as-a-service program that provides a full package of charging solutions. Customers include CBRE, JLL, Hines, Greystar, Cisco Systems and Standard Parking.
Blink will incorporate SemaConnect’s chargers into a single network developed by a joint engineering team. The addition of the SemaConnect hardware will accelerate Blink’s expansion across multiple markets, including California, which now requires credit card functionality.
“SemaConnect is an established and well-known EV charging company with a proven track record of success, strong relationships with its site host partners in both the public and private sectors, and best-in-class technical capabilities,” said Michael D. Farkas, founder and CEO of Blink Charging. “SemaConnect has a robust hardware product line-up which complements Blink’s extensive software product offerings including our multi-language and multi-currency network, allowing Blink to have an EV charging station for any location across more than 20 countries.”
Source: Blink Charging
Source: Electric Vehicles Magazine
