Endurance Technologies’ subsidiary -- Endurance Overseas Srl, Italy, has acquired 100% stake in Ingenia Automation Srl (Ingenia), Italy, with an effective date of May 31, 2024. Ingenia, based in Turin, Italy, operates in the design, production and installation of industrial automation systems.
By deploying robotics and other automation processes, Ingenia assists industries to improve productivity and enhance quality through higher adherence to stringent technical specifications. This strategic acquisition will bolster the Group’s skills in industrial automation and expand its presence in the value chain through backward integration.
The acquisition has been completed for a consideration not exceeding 3.6 million Euro, which includes an earn-out up to 0.6 million Euro to be paid after December 31, 2027, upon fulfilment of certain conditions subsequent.
Endurance Technologies is among one of the largest auto-components companies in India.
Company Name | CMP |
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SamvardhanaMotherson | 182.80 |
TVS Holdings | 12345.60 |
Bosch | 35356.75 |
UNO Minda | 949.95 |
Endurance Tech | 2425.60 |
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