Pannasoft Technologies was founded in 2003 with funding from a venture capitalist. In the same year, the company obtained the MSC (Multimedia Super Corridor) status. In 2004, Pannasoft Technologies was awarded the MGS (MSC Grant Scheme) to conduct R&D in data mining technology.

Pannasoft is a member of Software Consortium of Penang (SCoPe), an alliance of Penang-based software companies with association with key institutions of the Penang State Government to help nurture and develop the local software industry.

Pannasoft holds an advanced partner membership in IBM PartnerWorld program.