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FLEETCOR Technologies, Inc. (NYSE: FLT) has acquired Plugsurfing, a prominent European electric vehicle (EV) software and network provider. This acquisition enhances FLEETCOR's commitment to offering advanced EV solutions for commercial fleets, enabling access to European EV roaming and software applications for drivers and fleet managers. Plugsurfing operates a network of over 300,000 charge points across Europe, facilitating payment and tariff information for EV drivers. The acquisition aims to expand customer segments, optimize charging infrastructure for CPOs, and deliver a white-label EV solution for vehicle OEMs.
Positive
Enhances FLEETCOR's EV offerings for commercial fleets.
Access to a network of over 300,000 charge points in Europe.
Expansion into new customer segments including CPOs and OEMs.
Supports EV drivers with payment and tariff information.
Negative
None.
LONDON--(BUSINESS WIRE)--
FLEETCOR Technologies, Inc. (NYSE: FLT), a leading global business payments company, announced today the acquisition of Plugsurfing, a leading European electric vehicle (EV) software and network provider to vehicle OEMs, charge point operators (CPO), and fleets.
“The acquisition demonstrates FLEETCOR®’s commitment to developing world-class EV solutions for our thousands of commercial fleet customers, including access to European EV roaming capabilities and software applications for drivers and fleet managers,” said Tom Rowlands, global managing director of EV at FLEETCOR. “In addition, Plugsurfing allows us to pursue new customer segments by serving CPOs with software to manage their charging infrastructure and providing OEMs with a white-label EV solution. We’re excited to have Plugsurfing join the FLEETCOR family.”
Plugsurfing has developed a proprietary EV charging network in Europe with over 300,000 charge points, or nearly 80% of all charge points in Europe. The Plugsurfing app provides access to comprehensive tariff information and facilitates payment for EV charging. This capability is an essential tool for EV drivers and is available directly and as a turnkey white-label solution to EV OEMs for distribution to their customers.
In addition, Plugsurfing also serves CPOs with API, cloud-based operating software that enables CPOs to run their hardware efficiently and effectively, including managing payments of charging events.
Since its founding in 2012, Plugsurfing has processed about 20 million charging sessions and has been at the forefront of consolidating and simplifying the European EV ecosystem.
“We’re thrilled to bring a boost to the electric future in Europe through our acquisition by FLEETCOR. With their distribution and resources, we can scale our Plugsurfing platform to better serve existing and future customers on the EV journey that will continue to evolve over time. We’re excited about the prospects for continuing to help usher in an EV future,” Tatu Kulla, chief executive officer at Plugsurfing.
About FLEETCOR®
FLEETCOR Technologies (NYSE: FLT) is a leading global corporate payments company that helps businesses spend less by providing innovative solutions that enable and control expense-related purchasing and payment processes. The FLEETCOR portfolio of brands automate, secure, digitize and manage payment transactions on behalf of businesses across more than 100 countries in North America, Latin America, Europe, and Asia Pacific. For more information, please visit www.FLEETCOR.com.
About Plugsurfing
Plugsurfing aligns the entire car charging ecosystem—drivers, charging point operators, and carmakers—within a single platform. The over one million drivers connected to our platform benefit from a network of over 300,000 charging points across Europe and a reliable experience through our app or solutions designed for our partners. We serve charging point operators with a back-end cloud software for managing everything from country-specific regulations to providing diverse payment options for customers. Carmakers benefit from white label solutions as well as deeper integrations with their in-house technology. For more information, please visit www.plugsurfing.com.
