Endurance Technologies announced that Endurance Overseas Srl, Italy, subsidiary of the Company, has acquired 100% stake in Ingenia Automation Srl (Ingenia), Italy, with an effective date of 31 May, 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, which includes an earn-out up to 0.6 million to be paid after 31st December 2027, upon fulfilment of certain conditions subsequent.

Powered by Capital Market – Live News

First Published: Jun 01 2024 | 11:54 AM IST