Founded in 1990, PARI is a leading player in Industrial Automation in the country with significant overseas presence. The Company has deployed over 1,500 automated systems worldwide across more than 75 global customers. PARI has proven track record in providing turnkey automation solutions across sectors. It has built deep technical capabilities to understand and deliver on the automation needs of the industry from its facilities in Pune, India and Detroit, USA.
The strategic acquisition will give a significant boost to Wipro’s industrial automation business as PARI is one of the largest players in the space. The combined entity will now be able to address the entire stream of industrial automation solutions, including turnkey physical automation projects as well as digital factory initiatives to customers.
Edelweiss Financial Services has successfully closed a transaction acting as the Exclusive Sell-Side Advisor to PARI for its strategic sale to Wipro Infrastructure Engineering’s Industrial Automation business for an undisclosed consideration.