Zen Technologies Ltd. — M&A Activity 2025

Feb 15, 2025

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February 15, 2025

To

Listing Department

National Stock Exchange of India Limited Exchange Plaza, C-1, Block G, Bandra Kurla Complex, Bandra (E), Mumbai – 400 051

Symbol: ZENTEC

To

Dept. of Corp. Services BSE Limited Phiroze Jeejeebhoy Towers Dalal Street Mumbai- 400001

Scrip Code: 533339

Dear Sir/Madam,

Sub: Press Release

Please find attached press release titled “ Zen Technologies Acquires Applied Research International & ARI Labs to Strengthen Defense Simulation Capabilities” .

This is for your kind information and records.

Thanking you

Yours faithfully,

For Zen Technologies Limited SOURAV Digitally signed by SOURAV DHAR DHAR Date: 2025.02.15 19:30:23 +05'30'

Sourav Dhar

Company Secretary & Compliance Officer

Encl: as above

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PRESS & MEDIA RELEASE

Zen Technologies Acquires Applied Research International & ARI Labs to Strengthen Defense Simulation Capabilities

Hyderabad, India – February 14, 2025: Zen Technologies Limited (BSE: 533339 | NSE: ZENTEC), a global leader in combat training solutions and anti-drone systems, today announced the acquisition of Applied Research International Private Limited (ARIPL) and ARI Labs Private Limited (ALPL) , acquiring 100% equity stake in both companies. The acquisition, valued at ₹130.0 crores , 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 ₹92.18 crores for the financial year ending March 31, 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 ₹94.07 lakhs for the financial year ending March 31, 2024.

Ashok Atluri, Chairman & Managing Director of Zen Technologies, said:

“Joining forces with ARI strengthens our commitment to pioneering advanced defense training solutions. Bringing together Zen Technologies’ defense excellence and ARI Simulation's commercial marine, industrial, naval simulation and maritime e-governance related expertise, we will continue to make our solutions more powerful, impactful, and globally accessible.”

Shravan Rewari , co-founder of ARI. who will now serve as a Board Member, for strategic alignment, said: “ARI’s talented team will collaborate with Zen Technologies’ defence R&D specialists to develop next-gen simulation solutions. Both companies grew indigenously over 25-30 years, developing industry-leading solutions and setting global benchmarks. Jointly we will create an organization, with shared values, that will lead the way in offering unparalleled products and solutions to global and Indian markets."

With this acquisition, ARIPL and ALPL will eventually be fully integrated into Zen Technologies, further cementing its position as a leader in defense simulation. This strategic move drives innovation in military training by leveraging AI-powered analytics, immersive technology, and real-time performance assessments. It also broadens Zen’s capabilities beyond land-based training, advancing its expertise in naval and maritime simulations to enhance combat preparedness for the Indian Armed Forces and global defense forces.

The 100% acquisition is expected to be completed in two tranches within the next one year subject to regulatory approvals and customary closing conditions.”

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PRESS & MEDIA RELEASE

About Zen Technologies Limited

Zen Technologies Limited is a pioneer and leader in providing world class state-of-theart Defence Training and Anti-Drone solutions and has a proven track record in building training systems for imparting defense training and measuring combat readiness of security forces. With a dedicated R&D (recognized by the Ministry of Science and Technology, Government of India) and production facility in Hyderabad, the company has applied for over 172+ patents and shipped more than 1,000 training systems around the world.

Contact Us

Afzal Malkani

Chief Financial Officer Zen Technologies Limited investors@zentechnologies.com

Diwakar Pingle

Abhishek Mehra

Investor Relations Advisor Investor Relations Advisor Ernst & Young The Investment Lab diwakar.pingle@in.ey.com abhishek@theinvestmentlab.in

Safe Harbour

This document which have been prepared by Zen Technologies Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the basis or be relied on in connection with any contract or binding commitment whatsoever. No offering of securities of the Company will be made except by means of a statutory offering document containing detailed information about the Company.

This document has been prepared by the Company based on information and data which the Company considers reliable, but the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this Document. This Document may not be all inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Document is expressly excluded.

Certain matters discussed in this Document may contain statements regarding the Company’s market opportunity and business prospects that are individually and collectively forward-looking statements. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and assumptions that are difficult to predict. These risks and uncertainties include, but are not limited to, the performance of the Indian economy and of the economies of various international markets, the performance of the industry in India and world-wide, competition, the company’s ability to successfully implement its strategy, the Company’s future levels of growth and expansion, technological implementation, changes and advancements, changes in revenue, income or cash flows, the Company’s market preferences and its exposure to market risks, as well as other risks. The Company’s actual results, levels of activity, performance or achievements could differ materially and adversely from results expressed in or implied by this Document. The Company assumes no obligation to update any forward-looking information contained in this Document. Any forward-looking statements and projections made by third parties included in this Document are not adopted by the Company and the Company is not responsible for such third-party statements and projections.

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