NaaS Technology Acquires Sweden-Based Charge Amps For $66.4M
Portfolio Pulse from Shivani Kumaresan
Chinese EV charging company NaaS Technology Inc (NASDAQ:NAAS) has agreed to acquire 100% of the shares of Sweden-based Charge Amps AB for $66.4 million. The deal will be financed through a combination of cash and newly issued ordinary shares. NaaS held $78.8 million in cash and equivalents as of March 31, 2023. The acquisition is expected to boost NaaS's EV charging service capacity in Europe.
August 22, 2023 | 2:40 pm
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NaaS Technology's acquisition of Charge Amps for $66.4 million is expected to enhance its EV charging service capacity in Europe. The company's stock is trading higher by 0.78% following the announcement.
The acquisition of Charge Amps, a provider of integrated EV charging solutions, is a strategic move for NaaS Technology to expand its presence in the European market. This could potentially increase the company's revenues and profitability in the long run, which is likely why the stock is trading higher following the announcement.
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