Vontier buys Israeli EV charging co Driivz


Vontier buys Israeli EV charging co Driivz

US firm Vontier Corp. (NYSE: VNT) immediately introduced the acquisition of Israeli electrical car charging and power 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 power 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 autos.

Vontier president and CEO Mark Morelli mentioned, “The power panorama will change extra within the subsequent 10 years than within the earlier hundred and immediately’s announcement underscores our Web Zero targets 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 effectively to capitalize on the worldwide EVCI market alternatives. Driivz gives us with market main applied sciences inside the highest development, most worthwhile community administration software program market section. We’re excited to supply our prospects with best-in-class software program that’s {hardware} agnostic and the power to proceed to personal the buyer expertise.”

Driivz gives options to a variety of consumers collaborating within the international growth of electrical car 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 prospects with entry to over 100,000 charging factors worldwide. Driivz’s superior options and structure will allow present and new prospects to quickly scale their charging networks to fulfill rising international demand.

Frenkel mentioned, “This acquisition will advance our imaginative and prescient and mission to rework the EV charging power problem into an answer to an even bigger drawback – making a greener world for future generations. Collectively we will drive broader and deeper affect at a world scale and decarbonize our prospects’ power footprint.”

Driivz will proceed to be led by Frenkel and shall be run as an unbiased firm and wholly owned subsidiary of Vontier.

Revealed 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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