What Could SemaConnect Buyout Mean for Blink Charging?
June 15 2022 - 09:31AM
TipRanks
In a bid to expand its business vertically, Blink Charging Co.
(NASDAQ: BLNK) has agreed to acquire SemaConnect, Inc. in a cash
and stock deal worth $200 million. The completion of the
transaction is subject to the fulfillment of customary closing
conditions. Blink Charging views this buyout to be in line with the
Biden government’s Buy American initiative and $7.5 billion EV
infrastructure bill. Shares of the $642.4-million company grew 5.6%
to close at $15.03 on Tuesday. Inside the Headlines SemaConnect is
well-positioned in the electric vehicle (EV) market, serving
customers in retail, municipal, commercial, hotel, and other end
markets.
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Blink Charging (NASDAQ:BLNK)
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