M&A Deal Summary

Ideanomics Acquires US Hybrid

On May 13, 2021, Ideanomics acquired utilities company US Hybrid

Acquisition Highlights
  • This is Ideanomics’ 2nd transaction in the Utilities sector.
  • This is Ideanomics’ 5th transaction in the United States.
  • This is Ideanomics’ 2nd transaction in California.

M&A Deal Summary
Date 2021-05-13
Target US Hybrid
Sector Utilities
Buyer(s) Ideanomics
Deal Type Add-on Acquisition

Target

US Hybrid

Torrance, California, United States
US Hybrid specializes in the design and manufacturing of zero-emission powertrain components for electric, hybrid, and fuel cell medium and heavy-duty municipality vehicles, commercial trucks, buses, and specialty vehicles throughout the world. Established in 1999, US Hybrid began with a cadre of knowledgeable engineers and management with decades of experience in electric and hybrid powertrain and energy storage systems. US Hybrid has been developing and deploying electric, hybrid, and fuel cell vehicles for decades, as well as designing, developing, and manufacturing electric powertrain and fuel cell engines for medium and heavy-duty fuel cell commercial buses and truck OEMs. US Hybrid powertrain components are designed for the MD/HD clean transportation industry, providing zero-emission powertrain solutions to its customers and partners globally.

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Buyer(S) 1

Buyer

Ideanomics

New York, New York, United States
Category Company
Founded 2004
Sector Software
Employees110
Revenue 15M USD (2023)
DESCRIPTION

Ideanomics is a global fintech advisory and Platform-as-a-Service company. Ideanomics combines deal origination and enablement with the application of blockchain and artificial intelligence technologies as part of the next-generation of financial services. Ideanomics was founded in 2004 and is based in New York, New York.

DEAL STATS #
Overall 6 of 9
Sector (Utilities) 2 of 2
Type (Add-on Acquisition) 5 of 7
State (California) 2 of 3
Country (United States) 5 of 7
Year (2021) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-05 Wireless Advanced Vehicle Electrification

Salt Lake City, Utah, United States

Wireless Advanced Vehicle Electrification, Inc. is a provider of inductive (wireless) charging solutions for medium and heavy-duty electric vehicles (EVs). Embedded in roadways and charging vehicles during scheduled stops, the fully automated, hands-free WAVE system eliminates battery range limitations and enables fleets to achieve driving ranges that match that of internal combustion engines. Wireless Advanced Vehicle Electrification was founded in 2011 and is based in Salt Lake City, Utah.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-14 Solectrac

Santa Rosa, California, United States

Solectrac is a manufacturer, and distributor of premium zero-emission electric tractors that use clean renewable sources of energy, furthering the mission to reduce commercial fleet greenhouse gas emissions. Solectrac is based in Santa Rosa, California.

Buy -
Mergr

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