Beam Global, a Nasdaq-listed EV charging infrastructure and battery storage provider, has acquired Telcom, a European-based power electronics company, for EUR 815,298 (~USD 910,525). The acquisition was paid with EUR 385,298 (~USD 430,300) in unregistered Beam Global common stock and EUR 430,000 (~USD 480,224) in cash.

Beam Global expects the acquisition to enhance its products, improve quality, reduce warranty and service requirements, and lower costs by replacing third-party power electronic components with in-house engineered and manufactured solutions. The company also plans to support Telcom's growth in its current business and explore cross-selling opportunities with Telcom's existing client base.

Telcom, founded in 1990 and based in Belgrade, engineers and manufactures specialized power electronics, including inverters, charge controllers, power supplies, and LED lighting. The company reported over EUR 600,000 (~USD 670,080) in revenue in 2023 and has a working capital balance of approximately EUR 500,000 (~USD 558,400).

Analyst QuickTake: In August 2024 , Beam Global signed its first European distribution agreement with Geci Group, a transportation infrastructure company. This will enable the Geci Group to market, sell, service, and support Beam Global's products in Spain, Portugal, and the Spanish-speaking Caribbean and marks the beginning of Beam Global's global strategic expansion.