The low-energy dynamics of any system admitting a continuum of static configurations is approximated by slow motion in moduli (configuration) space. Here, following Ferrell and Eardley, this moduli space approximation is utilized to study collisions of two maximally charged Reissner--Nordstr{o}m black holes of arbitrary masses, and to compute analytically the gravitational radiation generated by their scattering or coalescence. The motion remains slow even though the fields are strong, and the leading radiation is quadrupolar. A simple expression for the gravitational waveform is derived and compared at early and late times to expectations.
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