Avanceon
Avanceon
Avanceon is a Pakistani software company based in Lahore, Pakistan. Founded in 1989 by Bakhtiar Wain, it is listed on the Pakistan Stock Exchange.[1]
History
Initially founded as Innovative Automation and Engineering Ltd (IAEL) in 1989, Bakhtiar Wain started the company to provide automation, instrumentation, and engineering solutions.[1]
In 2003, Engro Corporation acquired a majority stake in IAEL.[1]
In 2007, Engro expanded into the North American market by acquiring stakes in Advanced Automation Associates (AAA). The operations of IAEL and AAA were merged, and the company was rebranded as Avanceon.[1]
In 2012, Engro divested its investment, allowing Wain and associates to regain majority shareholding.[1]
In 2014, Avanceon offered an initial public offering (IPO) and was listed on the Pakistan Stock Exchange.[1]
References
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