Endurance Technologies Divests Italian Subsidiary in Fleet Management Software Business
Endurance Technologies Limited has announced the sale of its wholly-owned step-down subsidiary, Veicoli Srl, marking a strategic divestment as the group allocates resources to its primary focus on auto components. The company entered into a Share Purchase Agreement (SPA) for the outright sale of 100% of its shareholding in Veicoli.Veicoli is currently engaged in providing specialized software platforms designed for companies operating within the fleet management sector. The decision to divest this investment was made by the Endurance Group, consistent with its strategic focus on continued growth and development within its core auto components business. Following the sale, Veicoli will cease to be a subsidiary of Endurance Overseas SpA or the parent company.
The acquisition has been formalized through a Share Purchase Agreement and is slated for completion by July 1, 2026, pending the receipt of necessary approvals. The buyer in this transaction is Banyan Software UK Limited, a body corporate registered with the Companies House in the United Kingdom. The purchase is structured as an arm's length transaction and does not involve related parties.
The consideration for the sale has been set forth, comprising an upfront fixed payment of € 2.2 million, a deferred fixed payment amounting to € 0.3 million, and an earn out consideration linked to financial results over the first three years after completion, capped at € 5.0 million.
Key operational and financial details regarding Veicoli Srl are summarized below:
| Financial Metric | Value | Percentage of Parent Company (Endurance Technologies) |
|---|---|---|
| Total Income (FY 2025-26) | Rs. 32.58 crore | 0.22% |
| Net Worth (as at March 31, 2026) | Rs. 3.15 crore | 0.48% |
The transaction is a share sale and does not constitute a slump sale. The completion of the sale will result in Veicoli ceasing to be a subsidiary of Endurance Technologies Limited.
ENDURANCE Stock Price Movement
As of 1:21 PM, shares of Endurance Technologies Limited are shedding 0.13% in live trading, currently trading at ₹2680.8. The stock has maintained a tight intraday range, dipping to as low as ₹2667.4 amid nearly 39,480 shares traded so far today.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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