Blink Charging has acquired Belgium-based electric vehicle (EV) charging operator Blue Corner in a €20m ($24m) cash-and-stock deal.

The deal gives Blink Charging complete operational control over Blue Corner and its EV charging assets, bolstering its footprint in Western Europe.

Blue Corner operates 7,071 charging ports across Belgium, Luxembourg, the Netherlands and France.

The acquisition comes at a time when the sale of plug-in electric vehicles is increasing in Europe, which has led to an increase in demand for EV charging infrastructure.

Blink founder and CEO Michael D Farkas said: “We are very excited about this acquisition and the opportunity it provides us to have a significant presence in Europe quickly.

“As a key contributor to the expanding EV landscape, we are continuously looking for opportunities to strategically increase our global assets while also making EV charging more accessible.

“International expansion is fundamental to our rapid growth and will accelerate the success we are already achieving in the region.

“Our aggressive international strategy complements a series of significant domestic wins and new contracts that have exponentially expanded our network in the US.”

As agreed, Blue Corner’s operations will stay unchanged and its management team and personnel will continue at the company.

Blue Corner managing director Peter Buyckx said: “I am convinced that Blue Corner, as part of Blink Charging, can acquire a strong market presence throughout Europe.

“This acquisition allows us to significantly strengthen both our financial and organisational structure.”

Blink Charging focuses owns, operates and provides EV charging equipment and services. The company entered the European market in September 2019 by forming a joint venture (JV) with Eunice Energy Group.

Blink has also formed a new company to drive its European footprint.

In February, the company secured an order to supply 50 EV charging stations for its Evergo network in Panama.