Munasinghe joins Eureka Board

27-Apr-2008

A consortium of investors led by Prof. Munasinghe,Vice Chair UN Intergovernmental Panel on Climate Change and co-winner of the 2007 Nobel Peace Prize, and Rajan Anandan from the Indian Angel Network (IAN) and the Head of Dell India have bought a minority stake in Eureka Technology Partners (ETP).

ETP is a Managed Services Provider (MSP) with a trans-national business footprint covering Sri Lanka and select countries in Europe, with future plans of covering the Middle East, USA, Europe and the Indian sub-continent.

Eureka intends to provide world class managed services at affordable prices for the international SME market.

An ISO 20000 company, Eureka is one of only a handful of organizations worldwide that has been certified to deliver IT Infrastructure Management services of a global standard. ETP, established in 1996, has been one of Sri Lanka's IT pioneers.

With Munasinghe joining Eureka's board, the company is positioned to develop "Green" IT Infrastructure practices and offer a wide range of sustainable services and solutions to clients.

"Globally recognized investors and board members give us the necessary credibility to launch our IT Infrastructure Management services in overseas markets," said Eureka CEO Dilendra Wimalasekere.

"Eureka is poised to ride the next wave in offshore services," said Rajan Anandan. "In the '90s we saw software development being offshored. This was followed by BPO services in the early part of this decade. The third phase of offshoring is Remote Infrastructure Management (RIM)."

"I am glad to see a Sri Lankan company positioned to take advantage of this opportunity." Anandan is investing in Eureka in his personal capacity. He has operating experience in global technology leadership roles and was also a Partner with McKinsey & Company in the USA.

In addition to RIM, Eureka is undertaking a major endeavour to make IT infrastructure ecologically sound. Using a variety of innovative techniques and technologies (including consolidation, virtualization, bench marking, and power management), Eureka can help clients achieve optimal efficiencies in their IT operations, thereby reducing energy consumption and minimizing environmental impact.

"I was intrigued when Wimalasekere outlined the opportunity to combine our skills and develop a consulting practice that will help global companies implement energy efficient IT Infrastructure," said Prof. Munasinghe who won the Nobel Prize as Vice Chair, UN Intergovernmental Panel on Climate Change (IPCC). "Furthermore, the Munasinghe Institute for Development (MIND) which I head has been a Eureka client for over eight years and the team there has delivered excellent service-for me this was an easy decision to make."

IAN is the first pan-India Angel network with successful entrepreneurs and high profile CEOs interested in investing in early stage businesses across India having potential to create significant value. The investment in Eureka is IAN's first outside India.

Apart from financial investments, Network members look at providing strategic inputs and leveraging their networks to grow investee companies.

ETP, established in 1996, has been one of Sri Lanka's IT pioneers. Today it offers a range of IT services, backed by a team and a service reputation. Eureka is a market leader in IT Infrastructure Management and web development. In 2008, Eureka received ISO 20000 certification.