Zen Technologies announced the acquisition of Applied Research International (ARIPL) and ARI Labs (ALPL), acquiring 100% equity stake in both companies.
The acquisition, valued at Rs 130 crore, strengthens Zen Technologies' commitment to advancing simulation technologies for defense and security forces.
ARIPL, founded in 1998, specializes in simulation and assessment tools for the marine, offshore, naval, ports & terminals, construction, and mining industries, along with e-governance solutions for the Directorate General of Shipping in India. The company reported an operational revenue of Rs 92.18 crore for the financial year ending 31 March 2024.
ALPL, also established in 1998, focuses on simulation and assessment tools specifically for the marine and naval industries. The company reported a revenue of Rs 94.07 lakhs for the financial year ending 31 March 2024.