DK Business News
In a significant move to bolster its defense simulation capabilities, Zen Technologies Limited has announced the acquisition of Applied Research International Private Limited (ARIPL) and ARI Labs Private Limited (ALPL).The transaction, valued at ₹130 crore, involves the purchase of a 100% equity stake in both companies. This strategic acquisition is set to enhance Zen Technologies’ commitment to advancing simulation technologies for defense and security forces.
The sellers, ARIPL and ALPL, along with their promoter, Mr. Shravan Rewari, were advised by the law firm TT&A. The TT&A team was led by partners Sachin Mehta and Punita Gupta, with support from managing associates Ambika Sahai and Utsav Agarwal, senior associate Tanya Maithani, and associate Radhika Sarda. On the buy-side, Zen Technologies was represented by Shardul Amarchand Mangaldas & Co (SAM). The acquisition is structured to be completed in two tranches over the next year, subject to regulatory approvals and customary closing conditions.
Established in 1998, ARIPL specializes in simulation and assessment tools across various sectors, including marine, offshore, naval, ports and terminals, construction, and mining. The company also provides e-governance solutions for the Directorate General of Shipping in India. For the financial year ending March 31, 2024, ARIPL reported operational revenue of ₹92.18 crore. ALPL, also founded in 1998, focuses on simulation and assessment tools specifically for the marine and naval industries, with a reported revenue of ₹94.07 lakh for the same period.
The integration of ARIPL and ALPL into Zen Technologies is poised to strengthen the company’s position as a leader in defense simulation. This move will enable Zen to broaden its capabilities beyond land-based training, advancing its expertise in naval and maritime simulations. The acquisition aims to drive innovation in military training by leveraging AI-powered analytics, immersive technology, and real-time performance assessments, thereby enhancing combat preparedness for both the Indian Armed Forces and global defense forces.
Ashok Atluri, Chairman and Managing Director of Zen Technologies, commented on the acquisition, stating that joining forces with ARI strengthens their commitment to pioneering advanced defense training solutions. He emphasized that bringing together Zen Technologies’ defense excellence with ARI Simulation’s commercial marine, industrial, naval simulation, and maritime e-governance expertise will result in more powerful, impactful, and globally accessible solutions. Mr. Shravan Rewari, co-founder of ARI and now a board member for strategic alignment, highlighted that ARI’s talented team will collaborate with Zen Technologies’ defense R&D specialists to develop next-generation simulation solutions. He noted that both companies had grown indigenously over 25-30 years, developing industry-leading solutions and setting global benchmarks. With this acquisition, they aim to create an organization that will lead the way in offering unparalleled products and solutions to both global and Indian markets.
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