Romanian electro-IT retailer Altex, controlled by local entrepreneur Dan Ostahie, has signed an agreement to take over a 30% stake in Axionet IoT, a local company involved in developing a regional network of charging points for electric cars, Profit.ro reported.

Axionet IoT operates about 100 stations in Romania.

Altex will contribute to the expansion of the network of charging stations for electric vehicles.

Launched in 2017, the Polyfazer charging points network for plug-in electric and hybrid cars has an estimated market value of about EUR 2 million.

Altex reached a turnover of over RON 5 billion (over EUR 1 billion) and a net profit of RON 123.3 million in 2020.

(Photo: Pixabay)

andrei@romania-insider.com