The acquirement costs about ₺478 million, translating to about $16 million. It was also announced that one of the founders of TİTRA, Muhammed Selman Dönmez, will take office as Pasifik Teknoloji’s new director.
The CEO of Pasifik Teknoloji, Fatih Erdoğan, stated that the company would acquire firms and work together with their co-founders to expand in various areas just a few months ago.
Pasifik Teknoloji mainly focuses on electronics, software development, and cyber security. One of the company’s notable works includes overhauling TCDD’s ticket-selling platform.
TİTRA is best known for the ALPİN unmanned helicopter, which has recently entered service with the Turkish Armed Forces and taken part in operations.
TİTRA has added fixed-wing UAVs to its portfolio within the last two years. The company debuted DELİ catapult-launched loitering munition in SAHA EXPO 2022 and PUMA hand-thrown UAV for observation missions in IDEF’23. TİTRA’s field also involves cyber security, big data analysis and artificial intelligence.
Pasifik Teknoloji’s acquirement of TİTRA will mark the firm’s entry into the defence and aerospace industry. A co-founder from TİTRA being given a high-ranking position in the firm also tells about the dedication regarding the investment.
With this development, one defence company joins the Turkish Stock Market with Otokar, ASELSAN, KAREL, Katmerciler, SDT, Papilon, Tümosan and NETAŞ.
Pasifik Teknoloji Acquires Majority Stake in TİTRA
