NaaS to buy Swedish EV charging solutions provider Charge Amps for $66.4M

EV charging services company NaaS Technology Inc. says that it is buying Swedish EV charging solutions provider Charge Amps for $66.4 million bagging 100 percent of the issued and outstanding shares. The move is a continuation of NaaS’ vie for global EV domination following its acquisition of Sinopower HK earlier this summer. 

"We are very pleased to welcome the Charge Amps brand and team into the NaaS platform, marking an important milestone as we continue to expand into the international market," says Alex Wu, co-founder, President and CFO of NaaS. "We are very optimistic about the prospects of EV penetration in Europe and the overall charging service capacity. We are confident that we can work with the Charge Amps team to further strengthen its leading position in the EV charging space. We have also developed an integration plan that will see new products launched through the Charge Amps channels. I firmly believe this acquisition will bring value to our shareholders." 

Charge Amps was founded in 2012 and it develops smart charging stations, cables, and dedicated cloud software for use at home, in connection to commercial properties and offices, and in public environments. 

“There is strong interest from global investors in our market currently, and in Charge Amps specifically. We have been overt about our efforts in recent years to determine the best solution for the Company’s long-term strategy and growth plan. We believe that NaaS has both the expertise and financial strength to support Charge Amps’ growth journey under the same brand in Europe with an expanded product offering and the means to expedite the Company’s expansion plans. With NaaS’ extended product portfolio, Charge Amps will not only be able to bring more competitive and purposeful solutions to users, but also accelerate the transition to an electrified life and open the gateway to a smarter ecosystem," says Olle Tholander, CEO of Charge Amps.