Eureka Technology partners, Lanka’s own Infosys?

21-Apr-2008
By Raknish Wijewardene

In what is arguably the first high profile foreign investment in a local IT company Rajan Anandran, of the Indian Angel Network (IAN), and Professor Mohan Munasingha, Nobel laureate and chair of the UN panel on climate change, have taken a minority stake in Eureka technology partners, one of Sri Lanka’s IT pioneers.

Eureka specializes in Remote Infrastructure Management (RIM) - managing the IT infrastructure of companies remotely.

“The involvement of internationally recognized investors marks a turning point for the company” said Mr. Dilendra Wimalasekere Eureka’s Chief Executive “with new investment and expertise Eureka is now ready to expand into markets overseas”. He went on to say that the investment showed confidence in Eureka’s core Remote Infrastructure Management business “ “–small medium enterprises run hundreds of computers and several servers, by managing this infrastructure remotely we can help these businesses cuts costs by solving problems and ensuring data security online without technical staff on the ground .”

Eureka has so far been managing the IT infrastructure of 60 businesses in Sri Lanka but is now seeking to become a provider of RIM services to companies world wide. Explaining his decision to invest in Eureka Mr. Anandran a member of the Indian Angel network, a group of leading Indian CEO’s who provide investment and advice to small businesses said “Sri Lanka missed the bus as far as sourcing is concerned however the next stage of off shoring is RIM which allows the IT infrastructure of companies to be managed from low cost destinations overseas and Eureka is well positioned to take advantage of this development.”

Professor Munasingha attributed his investment in Eureka to the companies commitment to developing green IT solutions, solutions which make computers and networks more energy efficient.

Expressing confidence in Eureka and its management team Mr Anandran , a vice president of Dell USA said he saw no reason why Eureka shouldn’t achieve $100 million turnover in the near future. Indian companies alone are expected to earn 15 billion dollars by providing RIM services and by entering this market at an early stage Eureka can also claim a share of what will soon be a vast global market.

“Eureka can be an infosys, with its success driving growth across the IT sector in Sri Lanka, claimed Mr. Anandran “a company like eureka can put Sri Lanka on the map of IT.”