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US firm Vontier Corp. (NYSE: VNT) in the present day introduced the acquisition of Israeli electrical automobile charging and vitality administration software program developer Driivz No monetary particulars concerning the deal have been disclosed though Vontier mentioned it was a part of its $500 million dedication to guide in vitality transition.
Based in by CEO Doron Frenkel, Driivz has raised $23 million plus an undisclosed quantity from Volvo final March. The Hod Hasharon-based firm has developed a platform for end-to-end administration of huge charging networks for electrical automobiles.
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Vontier president and CEO Mark Morelli mentioned, “The vitality panorama will change extra within the subsequent 10 years than within the earlier hundred and in the present day’s announcement underscores our Web Zero objectives and advances our plan to ship options to assist deal with the worldwide emissions challenges.”
He added, “The acquisition of Driivz accelerates our portfolio diversification and e-mobility methods towards long-term secular development drivers and positions us properly to capitalize on the worldwide EVCI market alternatives. Driivz supplies us with market main applied sciences throughout the highest development, most worthwhile community administration software program market section. We’re excited to supply our clients with best-in-class software program that’s {hardware} agnostic and the flexibility to proceed to personal the buyer expertise.”
Driivz supplies options to a variety of consumers collaborating within the world improvement of electrical automobile charging, together with utilities, cost level operators, fleets, OEMs, EMSPs (e-mobility service suppliers), and oil and gasoline corporations. Driivz’s extremely scalable software program helps over 500 completely different charger sorts offering its clients with entry to over 100,000 charging factors worldwide. Driivz’s superior options and structure will allow present and new clients to quickly scale their charging networks to satisfy rising world demand.
Frenkel mentioned, “This acquisition will advance our imaginative and prescient and mission to remodel the EV charging vitality problem into an answer to a much bigger drawback – making a greener world for future generations. Collectively we will drive broader and deeper affect at a worldwide scale and decarbonize our clients’ vitality footprint.”
Driivz will proceed to be led by Frenkel and will likely be run as an impartial firm and wholly owned subsidiary of Vontier.
Printed by Globes, Israel enterprise information – en.globes.co.il – on February 8, 2022.
© Copyright of Globes Writer Itonut (1983) Ltd., 2022.
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