# Endurance Technologies acquires ION Energy's advanced electronics unit for $40M

Endurance Technologies Limited acquired ION Energy's advanced electronics business unit Maxwell Energy Systems (MESPL) for $40 million. Endurance will purchase a 51% stake for $17.5 million, with the remaining 49% to be acquired over 5 years.

- Type: Acquisition
- Announced: 2022-05-19
- Where: Mumbai, India
- Value: $40.0M
- Status: announced
- Products: battery management systems, advanced electronics for EVs and energy storage
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md), [Semiconductors and Industrial Electronics](https://endata.com/sectors/semiconductors-electronics.md)

## Companies

- [Endurance Technologies](https://endata.com/companies/15764.md) (acquirer)
- [ION Energy](https://endata.com/companies/62966.md) (target)
- [Maxwell Energy Systems](https://endata.com/companies/62967.md) (target)
- [Maxwell Energy Systems Private Ltd](https://endata.com/companies/63889.md) (target)

## Sources

- [inc42.com](https://inc42.com/buzz/endurance-tech-acquires-cleantech-startup-ion-energys-advance-electronics-unit-for-40-mn/), 2022-05-19: "With fairly rapid vehicle electrification, OEMs have accelerated their EV plans, and are focusing on battery parameters including safety, range and power, and BMS would be a key differentiator."
- [moneycontrol.com](https://www.moneycontrol.com/news/business/mergers-acquisitions/endurance-tech-acquires-51-in-maxwell-energy-systems-eyes-foray-into-ev-products-8768851.html), 2022-07-01: "Auto component manufacturer Endurance Technologies Ltd said on July 1 that it has acquired a 51 percent stake in Maxwell Energy Systems Private Ltd for Rs 135 crore."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.