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Beam global completes negotiations and signs agreement to acquire Europe based Amiga doo Kraljevo

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This week, Beam Global, a leading provider of sustainable solutions for electric vehicle charging, energy storage, energy security, and outdoor media, today announced the execution of a Stock Purchase Agreement to acquire Europe-based Amiga DOO Kraljevo, a Serbian manufacturer of specialised structures and equipment, including street lights, communications and energy infrastructure.

The transaction, valued at approximately €10 million, is expected to close in early Q4 2023, when Amiga will be rebranded Beam Europe.

Amiga, founded in 1990, has approximately 210 employees and counts municipalities, states and commercial companies as customers across 16 countries. It reported over €8.5 million in 2022, generates positive cash flows and is growing organically.

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According to Ivan Tlacinac, Amiga CEO and owner:

“We have spent over 30 years building credibility and solid relationships with government and commercial customers in sixteen nations internationally. Many of our customers are repeat customers.

Becoming part of Beam Global will allow us to market the latest renewably energised EV charging infrastructure products to our existing customers while opening up an entirely new set of opportunities for us. We have the engineering and operational capabilities to fabricate Beam products and a long list of prospects to market them to.”

CEO of Beam Global Desmond Wheatley shared:

“The European market offers significant opportunities for Beam Global expansion. The automotive market is larger than China or the US, and Europe’s commitment to sustainability, electrification, and renewable energy is active both at the government and commercial levels.

Amiga’s engineering and production teams are well suited to develop and produce our patented EV Standard product, which may become our biggest seller in the US and Europe.

 

Source: tech eu

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