Einride Acquires Flipturn to Boost EV Charging Ecosystem
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Einride to Acquire Flipturn to Expand Electric Heavy-Duty Charging Network
Stockholm, Sweden - Einride AB (Nasdaq: ENRD), a prominent freight technology company, has entered into a definitive agreement to acquire Flipturn, Inc., a developer of specialized charging and energy management software for electric fleets. The strategic acquisition aims to build one of North America's largest heavy-duty electric vehicle charging ecosystems by integrating Flipturn's software with Einride's freight technology platform.
The deal, valued at $38.4 million subject to adjustments, is an all-stock transaction paid in Einride American depositary shares (ADSs). By acquiring Flipturn, Einride intends to provide a fully vertically integrated electric freight technology stack. This includes advanced capabilities in charge point management, energy systems, and a brokerage layer designed to connect commercial fleets to third-party charging networks efficiently.
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