Promoted by N Krishnan as Pace Elcot Automation, in a joint venture with the Electronics Corporation of Tamilnadu, the wholly-owned enterprise of the Government of Tamilnadu, Pace Automation acquired its present name in Jan.'95. It has a government-recognised R&D centre.
The company is engaged in manufacturing and marketing business and industrial automation products. The product range includes attendance monitoring and access control systems, bar code printers and readers, mark code readers, intelligent data capturing and processing terminals, ticketing machines, work stations, etc. In 1991-92, the company entered into a MoU with Central Scientific Instrument Organisation (CSIO), Chandigarh, for development of laser scanners for barcode scanning.
The company tied up with Ontract Innovations (OTI), Israel, for a joint venture company to manufacture products based on the core technology of OTI in the core areas of contactless smart card which finds applications in the healthcare management, hotel management, etc.
In 1995-96, the company developed the concept of Payroll Outsourcing and developed an application specific attendance terminal with a built-in modem. It secured a Rs 2.5-cr order from Payserve Malaysia, for this product, during the year.