Urgent.ly (ULY) said Friday it completed the divestiture of its The Floow unit, a connected insurance technology provider.
The company said it returned 51% ownership to The Floow's founding management and retained a 49% stake and a perpetual royalty-free license for The Floow's technology.
The transaction doesn't affect The Floow's operations, according to Urgent.ly.
Shares of Urgent.ly were down 4.3% in recent trading.
Price: 0.80, Change: -0.04, Percent Change: -4.32
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