from EDENRED (EPA:EDEN)
Edenred accelerates in eMobility with the acquisition of Spirii
Press release
February 27, 2024
Edenred accelerates in eMobility with the acquisition of
Spirii, a European SaaS platform dedicated to EV[1] charging solutions
Edenred, a leading digital platform for services and payments, and a worldwide leader in B2B Mobility solutions, today announces the signing of an agreement to acquire Spirii, a fastgrowing Denmark-based global SaaS[2]platform offering a broad range of EV charging solutions in Europe. Through proprietary technology and a strong partner network, Spirii covers the whole EV charging value chain by offering a cutting-edge EV charging management platform and an intuitive end-user charging and roaming app in addition to turnkey charging solutions.
Through this acquisition, Edenred will be extending its offer to fleet managers, providing them with a best-in-class end-to-end EV charging solution. Edenred thereby affirms its ambition to stand out as the partner for fleet managers, helping them to manage their fleets, whether they consist of combustion engine, hybrid or electric vehicles. This is in line with Edenred strategy aiming at fostering the transition to EV.
Founded in 2019, Spirii is a European SaaS platform for EV charging, present in 18 countries, offering innovative, agile and end-user-oriented solutions covering the whole EV charging value chain. Through a proprietary Charge Point Management Platform, Spirii provides a full range of EV charging solutions to valuable clients such as TUI, EDF and Lease Plan. Through a network of 250 platform partners including hardware providers and installers for the turnkey offer and with its proprietary best-in-class software technology, Spirii covers both the infrastructure and charge point management parts of the value chain, offering asset-light services to fleet managers through a dedicated platform. Thanks to its mobile app, which has recorded an outstanding +150% annual growth in number of users in 2023, Spirii also provides a seamless end-user charging experience allowing drivers to plug into any available charging station thanks to its wide means of payments, as well as an extensive charging network accessible through roaming. Headquartered in Copenhagen, Denmark, Spirii counts c. 100 employees and is expected to generate revenues of €25m to €30m in 2024.
Edenred is a leading global mobility service provider, offering more than ninety programs enabling its 210,000 customers in Europe and Latin America to efficiently manage their fleets, optimize their costs and reduce their carbon footprint. In Europe, its customers can access more than 570,000 on-road charging points for electric and hybrid vehicles. Fleet managers can benefit from a comprehensive mixed-fleet management solution, enhanced by an array of value-added solutions through Edenred digital platform including toll solutions and VAT refund services.
The acquisition of Spirii strengthens Edenred value proposition for mixed and electric fleet management, confirming the company as a one-stop-shop for fleet managers. By building a dedicated and end-to-end EV charging offer, Edenred will provide a full range of turnkey solutions to charge vehicles at work/depot and at home in addition to on-road charging, standing out as the privileged partner for fleet managers to succeed in their transition to EV.
The complementarity between Edenred and Spirii offers will generate considerable cross-selling opportunities for existing clients of both companies.
Diane Coliche, Chief Operating Officer, Mobility at Edenred, said: “We are excited to bolster our offerings as we embark on this new journey alongside Spirii. This operation expands our reach to a broader network of clients. With this acquisition, Edenred reinforces its commitment to spearheading innovative eMobility solutions and to helping its clients in their electrification transition. We are looking forward to collaborating with Spirii’s teams to reshape the mobility landscape.
Tore Harritshøj, Co-founder and CEO of Spirii, said: “We are delighted and proud to join Edenred, as it marks a key milestone in Spirii’s journey since 2019. The combination of Spirii’s cutting-edge technology for EV charging and Edenred’s comprehensive portfolio of leading Mobility solutions will fast-track the transition to sustainable transportation, enabling companies and EV drivers to fulfill their electric mobility ambitions.”
The transaction consists in the acquisition of an initial 88% equity stake in Spirii and includes call options enabling Edenred to raise its interest to 100% by 2029. Private Equity Fond Nordic Alpha Partners will alongside all other non-management investors, sell 100% of their shares in the transaction.
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About Edenred
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Edenred is a leading digital platform for services and payments and the everyday companion for people at work, connecting more than 60 million users and more than 2 million partner merchants in 45 countries via close to 1 million corporate clients.
Edenred offers specific-purpose payment solutions for food (such as meal benefits), engagement (such as gift cards and engagement platforms), mobility (such as multi-energy solutions, including EV charging, maintenance, toll and parking) and corporate payments (such as virtual cards).
True to the Group’s purpose, “Enrich connections. For good.”, these solutions enhance users’ well-being and purchasing power. They improve companies’ attractiveness and efficiency, and vitalize the employment market and the local economy. They also foster access to healthier food, more environmentally friendly products and sustainable mobility.
Edenred’s 12,000 employees are committed to making the world of work a connected ecosystem that is safer, more efficient and more responsible every day.
In 2023, thanks to its global technology assets, the Group managed €41 billion in business volume, primarily carried out via mobile applications, online platforms and cards.
Edenred is listed on the Euronext Paris stock exchange and included in the following indices: CAC 40, CAC 40 ESG, CAC Large 60, Euronext 100, Euronext Tech Leaders, FTSE4Good and MSCI Europe.
The logos and other trademarks mentioned and featured in this press release are registered trademarks of Edenred S.E., its subsidiaries or third parties. They may not be used for commercial purposes without prior written consent from their owners.
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CONTACTS
Communications Department
Emmanuelle Châtelain
+33 (0)1 86 67 24 36 emmanuelle.chatelain@edenred.com
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Media Relations
Matthieu Santalucia +33 (0)1 86 67 22 63 matthieu.santalucia@edenred.com Investor Relations
Cédric Appert
+33 (0)1 86 67 24 99 cedric.appert@edenred.com
Baptiste Fournier
+33 (0)1 86 67 20 73 baptiste.fournier@edenred.com