Exicom Tele-systems locked in upper-circuit after acquiring business and assets of Tritium

Headquartered in Australia, Tritium is an industry leader in direct current (DC) fast chargers. Exicom reported that Tritium has sold over 13,000 DC fast chargers across 47 countries. The company designs and manufactures proprietary hardware and software for liquid-cooled DC fast chargers.

Exicom stated that the acquisition will allow the company to unlock long-term growth and value for its stakeholders. Following the acquisition, Tritium’s manufacturing facility in Tennessee, USA, and an engineering centre in Brisbane, Australia will help Exicom expand its presence in Asia. Further, the company stated that the acquisition will result in opportunities to serve different use cases and boost electric vehicle (EV) infrastructure adoption.

The company cited BoolmbergNEF’s “Economic Transition Scenario” which forecasts EV growth to account for 45% of passenger vehicle sales by 2030 and 73% by 2040.

Anant Nahata, chief executive officer of Exicom Tele-systems, said that the acquisition aligns with Exicom’s strategic vision and Tritium has complementary sales and product footprint. Through the acquisition, Exicom aims to grow the business further and provide its offerings to EV users globally.

“This acquisition is in line with Exicom’s strategic vision to be a key contributor to the world of tomorrow by enabling an emission-free future for mobility. Exicom and Tritium have a complementary sales and product footprint and have each established leadership in their respective regions,” he said.

Shares of the company have risen by nearly 82% in the past year. Shares of the company were listed on the stock exchanges on March 5, 2024.