Exicom Tele-Systems Limited Expands Global Reach with Tritium Acquisition

Exicom Tele-Systems Limited has announced through a stock exchange filing that its wholly-owned subsidiary, Exicom Power Solutions B.V., has acquired 12,000 ordinary shares of Tritium Power Solutions Pty Ltd, Queensland.

The shares, priced at $0.01 each, were purchased from Mr Raj Kumar, a resident of Narre Warren South, VIC, Australia. The total consideration for this acquisition was $120, which represents 100% of the paid-up share capital of Tritium Power Solutions Pty Ltd.

With this acquisition, Tritium Power Solutions Pty Ltd becomes a wholly-owned subsidiary of Exicom Power Solutions B.V. and a step-down wholly-owned subsidiary of Exicom Tele-Systems Limited. This move marks a significant expansion in Exicom Tele-Systems’ global footprint in the electric vehicle supply equipment (EVSE) industry.

The primary objective behind this acquisition is to bolster Exicom’s global presence in the EV charger and critical power business. By integrating Tritium Power Solutions Pty Ltd into its portfolio, Exicom aims to enhance its capabilities and market reach in the rapidly growing EVSE sector. This strategic acquisition aligns with the company’s goals of expanding its technological and operational capacities to support the global shift towards electric vehicles and sustainable energy solutions.

The transaction underscores Exicom Tele-Systems Limited’s commitment to strengthening its position in the global EV charging infrastructure market and advancing its efforts in the critical power solutions domain. With Tritium Power Solutions Pty Ltd now under its umbrella, Exicom Tele-Systems is poised to leverage new opportunities and drive growth in the EVSE industry.

About Exicom Tele-Systems Limited

Exicom Tele-Systems Limited specialises in power systems, electric vehicle (EV) charging, and other related solutions.

On August 1, 2024, the share price of Exicom Tele-Systems Ltd opened at ₹449.85, touching the day’s high at ₹460.00, as of 11:43 AM on the NSE.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.