ECONOMYNEXT – WS02, a Sri Lanka-based technology company said it will be acquired by EQT, a private equity group founded in Sweden.
“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,” Sanjiva Weerawarana, Chief Executive and Founder of WSO2 said in a statement.
WSO2 says its cloud based and open source software is used by several hundred of the world’s largest companies as well as universities and government, collectively executing 60 trillion transactions each year.
“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,” Hari Gopalakrishnan, Partner in the EQT Private Capital Asia advisory team said.
Founded three decades ago by the Sweden’s Wallenberg family, EQT owns portfolio companies and assets in Europe, Asia-Pacific and the Americas.
EQT’s portfolio o includes firms such as IFS, SUSE and thinkproject. (Colombo/May04/2024)