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Blink Charging Buys SemaConnect to Boost EV Infrastructure (1)

June 14, 2022, 5:08 PM

Electric vehicle charging business Blink Charging Co. has agreed to acquire SemaConnect Inc., an electric vehicle infrastructure company, for $200 million in cash and stock, according to a statement Tuesday, confirming a Bloomberg News report.

The acquisition is about a third the size of Blink’s market value. Blink rose 3.7% to $14.76 at 1:06 p.m. in New York trading Tuesday, giving the company a market value of about $631 million. The stock has fallen about 64% in the past year.

Blink, based in Miami Beach, Florida, owns and operates electric vehicle charging equipment. SemaConnect provides electric vehicle infrastructure products ...