June 28, 2018 / 1:10 PM / 3 months ago

ChargePoint acquires e-mobility software group Kisensum

FRANKFURT (Reuters) - Silicon Valley-based ChargePoint, operator of one of the world’s largest charging station networks for electric cars, on Thursday said it acquired U.S.-based software maker Kisensum, as e-mobility services attract greater M&A interest.

Kisensum develops software to control and optimize energy resources, including photovoltaics and charging stations for electric vehicles, the company says on its website.

ChargePoint said it would integrate Kisensum’s cloud services to let managers of electric vehicle fleets “control and optimize grid services, local renewables generation, and energy storage”.

No purchase price was disclosed.

The announcement comes shortly after BP (BP.L) unveiled plans to buy Britain’s top electric vehicle charging firm Chargemaster, hoping to benefit from a shift toward electric vehicles and away from fossil fuel-based engines.

ChargePoint, which counts BMW (BMWG.DE), Daimler (DAIGn.DE) and Siemens (SIEGn.DE) among its shareholders, has raised $125 million to expand outside its home market and into Europe and in November announced a deal with petrol station service group TSG.

Reporting by Christoph Steitz; Editing by Elaine Hardcastle

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