Urgent.ly announced the strategic divestiture of its wholly owned subsidiary, The Floow, a leading provider of connected insurance technology. The transaction is part of Urgently’s strategic effort to divest non-core assets and dedicate its resources to advancing its core business. Under the divestiture, Urgently has returned 51% ownership to The Floow’s management, while retaining 49% ownership and a perpetual royalty-free license for The Floow’s technology, allowing for possible integration with Urgently’s mobility assistance platform in the future.
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