At meeting held on 07 August 2024
The Board of Exicom Tele-Systems at its meeting held on 07 August 2024 has approved a strategic acquisition of Tritium group of companies' (Tritium Group) assets and business in United States of America and Australia through Exicom's wholly owned step-down subsidiaries (Tritium Acquisition).The Tritium Group designs and manufactures proprietary hardware and software to create advanced and reliable liquid-cooled direct current fast chargers (DCFC) for EVs. Tritium Group is recognized as a leading industry brand globally, with a record of over 13,000 DCFCs sold in 47 countries.
With this landmark acquisition, Exicom is set to unlock substantial long-term growth and value for its stakeholders. The Tritium Acquisition will add Tritium Group's manufacturing facility in Tennessee, USA, and its world-class engineering centre in Brisbane, Australia to Exicom's existing presence in Asia. This acquisition expands Exicom's global reach and amplifies its commitment to research and development to drive innovation in this growing industry.
For the Tritium Acquisition, Exicom's wholly owned subsidiary (namely Exicom Power Solutions B.V., a company incorporated in Netherlands) and wholly owned step down subsidiaries (namely Tritium Power Solutions Inc., USA and Tritium Power Solutions Pty Ltd, Australia) (collectively the Buyers) have executed a business sale agreement (Business Sale Agreement) today with the Tritium Group entities in United States of America (namely, Tritium America Corporation and Tritium Technologies LLC) and in Australia (namely, Tritium DCFC Limited, Tritium Holdings Pty Ltd, Tritium Pty Ltd) (collectively the Sellers) and their relevant receivers, managers, and agents.
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