HyperCharge Networks, which develops electric vehicle (EV) charging solutions, has acquired software developer and digital marketing agency CoSource Information Technology Services. Financial terms of the deal involve this financial formula.
HyperCharge Networks is an electric vehicle (EV) supply equipment company that provides turnkey EV charging solutions. HyperCharge is working with Target Park to deploy 2,500 EV charging stations across North America through the end of 2024.
Meanwhile, CoSource is a digital agency specializing in full-service marketing and software product development. The agency has developed an integration framework specifically for the emerging EV charging ecosystem to “streamline the customer experience and simplify EV adoption,” the seller said.
HyperCharge has M&A experience. The company acquired SparkEV in November 2021. Ahead of that deal, HyperCharge raised $4 million in private financing in October 2021.