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Blink (US.BLNK) Agrees to Acquire SemaConnect in $200 Million Deal

Shares of electric-vehicle charging equipment maker Blink Charging were trading higher Tuesday after the company agreed to acquire SemaConnect for $200 million in cash and stock.Blink’s acquisition of privately held SemaConnect of Bowie, Md., should help the company capitalize on President Joe Biden’s new $7.5 billion EV infrastructure bill announced earlier this month. Blink will “assist with the administration’s goal to build out the first-ever national network of 500,000 electric vehicle chargers along America’s highways and in communities,” the company said in its press release.

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