Pasifik Technology Acquires 51% of Proline
Publicly listed in February 2024 and making a strong entry into the defense industry by acquiring Titra Technology, the producer of Türkiye’s first and only unmanned helicopter, Pasifik Technology aims to strengthen its technological capacity through the Proline acquisition and offer innovative solutions across a wide spectrum ranging from safe cities to biometrics.
According to the disclosure made by Pasifik Technology to KAP (Public Disclosure Platform), at the board meeting held today (January 31, 2025), it was resolved to acquire 51% of Proline’s shares at a discounted valuation conducted by a CMB-licensed firm and to initiate the share transfer process. The announcement stated that Proline is valued at 430,589,096 TL and that the acquisition will be completed with a 12.91% discount. The KAP statement noted: “Proline is a national company offering innovative technologies in biometric solutions, electronic identification and secure qualified documents. Founded in 2003, Proline is a specialized technology company with nearly 200 employees, carrying out significant operations not only in Türkiye and the TRNC but also actively undertaking successful projects in the Middle East, Africa and Asia. Following this acquisition, the products and services offered under Proline will be added to those already provided by our company, resulting in a significant expansion of our product and service portfolio. Updates regarding this process and related developments will continue to be shared with our investors and the public.”
‘We will launch at least two new products in 2025’
Pasifik Holding Chairman of the Board Fatih Erdoğan had previously stated: “We will invest in companies, entrepreneurs and products that we believe align with our strategic goals, expand our service portfolio, have high growth potential and will allow us to build a successful and global story.” Erdoğan also noted that Pasifik Technology continues to broaden its service network in information technologies, including software, cybersecurity and financial technologies, particularly in the defense sector.
Emphasizing that Proline is an important step in Pasifik Technology’s growth strategy, Pasifik Technology CEO Ahmet Aslanpınar said: “The innovative hardware and software solutions, licenses and technologies developed by Proline’s R&D center will significantly strengthen our group’s assets and capabilities. Additionally, we have strong targets for 2025, including the launch of at least two new products and positioning our existing capabilities in international projects. We expect these steps, along with our ongoing operations and projects, to contribute significantly to our revenue.”
Pasifik Technology Raises Its Ambitions
Ahmet Aslanpınar noted that Pasifik Technology is one of the five largest technology companies listed on Borsa Istanbul and stated that the company is committed to the principle of ‘designing technology,’ viewing passionate work as the key to success. He added that with Proline joining the group, Pasifik Technology aims to strengthen its presence in regional and global markets and continue shaping the sector with its innovative solutions.
Proline Achieves Major Projects as a Regional Technology Power
Proline, a Turkish technology company specializing in smart and safe cities, secure and qualified documents, identity management and biometrics, was founded in 2003 and operates with a Middle East, Africa and Asia-focused strategy. Having delivered major projects both in Türkiye and the region over the past decade, Proline’s notable achievements include: managing the security of Qatar’s capital Doha from a single command center; establishing and maintaining the physical security infrastructure of Istanbul Airport; developing the BioPOS device for the Social Security Institution’s Biometric Identity Verification Project, enabling patient verification through finger vein recognition; and implementing national ID card, e-passport and e-driver’s license processes in Türkiye.
Proline also delivered a highly significant European Union project, IDEA4SWIFT, in which four different biometric solutions were integrated into access control systems for the first time—an achievement that earned the company two Excellency Awards.