Corporate News     17-Jul-23
Endurance Technologies acquire further 5% stake in Maxwell Energy Systems
Endurance Technologies has acquired additional 5% equity stake in Maxwell Energy Systems thereby increasing its shareholding to 56%. This additional stake has been acquired for a cash consideration of Rs. 6.94 crore, based on agreed valuation methodology as per the terms of Share Subscription and Purchase Agreement dated 18 May 2022 (SSPA). The Company shall acquire remaining equity stake in annual tranches. This would be over the next four years, in terms of the SSPA.

Maxwell is in the business of embedded electronics particularly in battery management systems for vehicles including electric vehicles (EV) and for stationary storage systems.

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