ANAHEIM, Calif. - February 27, 2024 - Parsec Automation Corp. (Parsec), the innovative leader in Manufacturing Execution Systems (MES), today unveiled another record-breaking performance in 2023. The year marked milestones in growth and customer acquisition, with the company achieving a strong double-digit increase in bookings, revenue, and earnings despite a challenging global economic landscape. Parsec's success is highlighted by the widespread deployment of its flagship platform, TrakSYS™, and a significant expansion in its diverse customer base across key sectors.

2023 at a Glance: A Year of Breakthroughs and Accolades

● Announced a major recapitalization led by BVP Forge in July 2023, designed to scale Parsec's platform, accelerate growth, and maximize customer impact.
● Achieved record-setting sales, culminating in a year-over-year revenue growth for the seventh consecutive year, a testament to the company's robust market presence and innovation.
● Earned #1 rankings in 3 of 4 Gartner Critical Capabilities for MES Use Cases, reinforcing Parsec's dominance in Continuous Process Manufacturing, Batch/Repetitive Flow Manufacturing, and Highly Regulated Industries.
● Enhanced commitment to security and quality, demonstrated by the attainment of ISO 27001 certification and the continuance of its ISO 9001 certification, ensuring the highest standards for Parsec's clients.
● Strengthened its leadership team with strategic appointments, adding industry veterans as the Vice President of Global Sales and Vice President of Professional Services, bringing fresh perspectives and seasoned expertise to its executive team

Parsec credits its sustained success to its philosophy of developing an MES that truly aligns with the needs of manufacturers. This approach has resonated profoundly with clients in pharmaceuticals, food and beverages, chemicals, and consumer packaged goods. This alignment was impactfully illustrated by a recent report by IDC, which showcased a 400+% three-year ROI realized by many large enterprise customers using TrakSYS.

Eddy Azad, CEO of Parsec, reflects on these achievements: "This year's success is not just about numbers; it demonstrates our unwavering commitment to excellence and innovation in manufacturing. Our dedication to delivering unparalleled value is evident in the latest release of TrakSYS, which embodies our promise of ‘making the management of complex manufacturing operations as simple as possible.' We remain focused on bringing extraordinary value to our clients through continuous improvement and innovation."

Looking ahead to 2024, Parsec is uniquely positioned to further its mission of democratizing MES. With new offerings and licensing approaches, the company is set to make efficient operations management even more accessible to manufacturers worldwide.

About Parsec Automation

Parsec is the developer of TrakSYS, a proven manufacturing execution system designed to significantly improve manufacturing processes. Parsec is committed to providing best-in-class products and solutions to its worldwide community of clients to assist them in optimizing their manufacturing operations. There are thousands of TrakSYS licenses in use around the globe in a wide variety of industries.

TrakSYS helps manufacturers to maximize asset utilization and efficiency, increase capacity with no new capital equipment, reduce production costs, decrease lead time, and improve profitability. For more information about Parsec and TrakSYS, please visit the corporate website at www.parsec-corp.com.

Contacts
Kate Aviv
Matter Communications
kaviv@matternow.com