Announced
Completed
Financials
Tags
Majority
Single Bidder
Friendly
Auto Services
electric vehicle charging
United States
Private
Domestic
Merger
Acquisition
Reverse Takeover
Completed
De-SPAC
Private Equity
Synopsis
Switchback Energy Acquisition, a publicly traded SPAC with a strategic focus on the energy sector, completed the merger with ChargePoint, an electric vehicle charging network, in a $2.4bn deal. “ChargePoint has a proven and capital-light business model that combines hardware and high-margin, recurring software subscriptions and services with extensive and strong customer relationships. As a result, we believe ChargePoint will continue to grow its strong market position as the EV industry evolves. Switchback and our investors are excited to partner with the talented ChargePoint team to advance their vision,” Scott McNeill, Switchback CEO, CFO and Director.
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