Asian Investment Firm To Acquire Top Sri Lankan Tech Company

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Asian investment firm EQT Private Capital Asia is to acquire top Sri Lankan tech company WSO2.

WSO2, the leader in digital transformation technology, announced, Friday, that it has signed a definitive agreement to be acquired by EQT.

“We are thrilled to partner with EQT as we embark on the next phase of WSO2's journey,” said Dr. Sanjiva Weerawarana, CEO and Founder of WSO2.“With EQT's support and expertise, we are well-positioned to accelerate our innovation agenda, expand our global footprint, and continue empowering enterprises to thrive in the digital economy.”

Since its inception in 2005, WSO2 has been at the forefront of building innovative software that allows organizations to seamlessly deliver digital experiences.

Today, WSO2's platform offers a complete set of market leading solutions across integration, API management, identity & access management (IAM) and application development. Thousands of organizations, including hundreds of the world's largest corporations, top universities, and governments, rely on WSO2's cloud native software as a service (SaaS) and open-source offerings to drive their digital initiatives - executing 60 trillion transactions and managing over 1 billion identities each year.

With EQT as its new partner, WSO2 reaffirms its commitment to delivering innovative solutions that address the evolving needs of modern businesses.

Looking ahead,“WSO2 remains focused on driving customer success, fostering community collaboration, and delivering innovative software that unlocks new value creation opportunities for organizations worldwide,” added Weerawarana.

Hari Gopalakrishnan, Partner in the EQT Private Capital Asia advisory team, said:“We're excited to partner with WSO2 as it helps customers across industries drive their digital transformation and enhance operational resilience. We believe that WSO2 is well-positioned to capitalize on long-term trends such as digital transformation and rising generative AI adoption and are confident of drawing on EQT's proven software value creation playbook to further accelerate WSO2's strong growth.”

EQT is a purpose-driven global investment organization with EUR 242 billion in total assets under management and the third largest private equity firm globally*. Founded three decades ago by the Swedish Wallenberg family, today EQT owns portfolio companies and assets in Europe, Asia-Pacific and the Americas and supports them in achieving sustainable growth, operational excellence and market leadership. EQT's extensive global portfolio of enterprise software companies includes firms such as IFS, SUSE, thinkproject, and more.

The transaction is subject to customary conditions and approvals. J.P. Morgan served as exclusive financial advisor to WSO2. (Colombo Gazette)

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