Exicom, a leader in electric vehicle charging and critical power solutions, has acquired Tritium, one of the pioneering manufacturers of high-power DC fast chargers. The all-cash deal valued at $37 million will see Exicom take ownership of Tritium’s manufacturing plant in Tennessee and engineering center in Australia.
The acquisition will help Exicom accelerate innovation and expand its global footprint in the fast-growing EV infrastructure space. Exicom is already an established player with a presence in 15 countries across Africa, Middle East and Asia. On the other hand, Tritium is an industry veteran with over 13,000 chargers installed in 47 nations.
The complementary strengths of the two companies will allow Exicom to deliver best-in-class charging experiences to a wider customer base worldwide. Leaders from both firms expressed optimism about the potential of combining their expertise, resources and regional strongholds.
The deal comes at an opportune time as governments ramp up efforts to build out EV charging networks. Many countries see it as crucial to drive broader EV adoption. In India, a $1 billion scheme was recently launched to install over 70,000 public charging points over the next two years.
With EV charging poised for exponential growth, the acquisition enables Exicom to solidify its position and cater to the rapidly evolving demands of this critical infrastructure sector both in existing and new markets on a global scale.
