STOCKHOLM, July 23, 2024 (GLOBE NEWSWIRE) -- Brick Technology AB (“Brick”), a consumer tech company developing innovative charging solutions, announced today the acquisition of Volt ApS (“Volt”). Under the acquisition agreement signed on July 12th, Brick has acquired 100% of the shares in Volt at a total transaction consideration of 18.8 million Danish Krona / 28.9 million Swedish Krona / 2.5 million Euro. Volt is primarily known for its charging solution and related services offered at festivals across Northern Europe.
Image by Brick Technology AB (“Brick”)
Since its founding in 2011, Volt has established itself as a leading service provider and well-recognized brand in the festival and events industry by offering in-demand services focused on smart charging solutions and other related event services such as lockers. Through this acquisition, Brick will expand its service offering for the event sector, while enhancing Volt´s services with Brick's autonomous technology and global franchise network. Volt´s expertise in brand activation and smart solutions for events will be integrated into Brick's extensive technology infrastructure and brought internationally through Brick´s franchise network in close to 40 countries.
"It is incredibly exciting to become part of Brick," says Frederik Due Jensen, Founder and CEO of Volt.
Brick Technology CEO Emil Esselin views the acquisition as a strategic milestone in the company's development. "Acquiring Volt is an important step for us in consolidating the market. In the near future, we will focus on realizing synergies with Volt and taking their services globally, but we’re also on the lookout for the next interesting company to supercharge our strong organic growth with another complimentary acquisition".
For further information, please contact
Jimmy Hagelfors
Chief Operations Officer, Brick Technology AB
Phone: +46 (0)738554630
Email: jimmy@brick.tech
About Brick Technology AB:
Brick Technology AB is a consumer tech company developing smart and autonomous power bank rental solutions. The company has a franchise network across 35 countries with more than 300,000 users globally.
About Volt:
Volt is a service provider focusing on smart charging solutions and related services for festivals and events. The Volt brand has become well-recognized in the festival industry and is most tightly associated with the Roskilde festival where it served more than 80,000 festival-goers in 2024 and remains the festival´s most well-recognized brand. Besides its experienced core team, Volt also engages upwards of 1,000 volunteers in the festivals it serves.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/59d39a06-958c-42e8-b9ff-08c4a4deb924
