Beam Global Announces Strategic Acquisition Of Allcell Technologies, A Leader In Energy Storage Solutions

Feb 23, 2022•over 3 years ago

Acquiring Company

Beam Global

Acquired Company

AllCell Technologies

San DiegoRenewable Energy

Description

Beam Global, (Nasdaq: BEEM, BEEMW), the leading provider of innovative sustainable technology for electric vehicle (EV) charging, outdoor media and energy security, today announced that it has entered into a definitive asset purchase agreement to acquire AllCell Technologies, a leader in energy storage solutions and technologies, in an all stock transaction. The transaction is expected to close on March 1st, subject to customary closing conditions. Beam will host an investor call to discuss the transaction on March 1, 2022 at 1:30pm PT / 4:30pm ET. A recorded video interview with Beam CEO, Desmond Wheatley, discussing the deal is currently live on the Beam blog.

Company Information

Company

Beam Global

Location

San Diego, California, United States

About

Beam Global is a clean technology innovator which develops and manufactures sustainable infrastructure products and technologies. We operate at the nexus of clean energy and transportation with a focus on sustainable energy infrastructure, rapidly deployed and scalable EV charging solutions, safe energy storage and vital energy security. With operations in the U.S. and Europe, Beam Global develops, patents, designs, engineers and manufactures unique and advanced clean technology solutions that power transportation, provide secure sources of electricity, save time and money and protect the environment. Headquartered in San Diego with facilities in Chicago, Belgrade and Kraljevo, Beam Global has a deep patent portfolio and is publicly traded on Nasdaq under the symbols BEEM and BEEMW.

M&A Insights

Based on deal data

Integration timeline

70% of M&A integrations take 12-24 months to complete

Tech stack consolidation

83% of merged companies consolidate technology vendors within first year

Post-acquisition investment

Companies increase IT spending by 23% on average after acquisitions

Success factor

M&A deals with strong technology integration plans are 2.5x more likely to succeed

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