Sanjiva Weerawarana, celebrated for his entrepreneurial prowess, is the founding father of the enterprise software program firm WSO2. Since its inception in 2005, the corporate has seen practically $100 million in annual recurring income. Weerawarana’s eager enterprise perception
and concentrate on buyer worth have led to WSO2’s distinguished international consumer base.
The open-source software program options provided by the corporate have been adopted throughout numerous industries. WSO2’s distinctive dedication to open-source group has positioned it as a preferable alternative amongst tech giants like Samsung, AT&T and Axa. Markedly, this success was achieved regardless of being based mostly in Sri Lanka, a area not famend for high-tech startups.
In 2024, the enterprise attracted a hefty proposal from EQT, a personal fairness agency. The deal, topic to regulatory acceptance, entails shopping for WSO2 for $600 million.
WSO2’s international influence from Sri Lankan roots
This acquisition might doubtlessly consolidate EQT’s place within the IT sector.
The transaction comes with a fruitful promise of wealth creation. About 30% of the earnings are projected to be distributed among the many WSO2’s workers. This upholds Weerawarana’s perception within the significance of fairness in his enterprise. The prospect of wealth accumulation might additionally catalyze the emergence of latest entrepreneurial endeavors.
Based in Colombo, WSO2 emerged as a big participant within the tech area by offering very important middleware options. The corporate affords tech instruments like API administration and Identification and Entry Administration (IAM), reflecting the growing concentrate on cybersecurity within the digital enterprise period.
Regardless of going through substantial strain to relocate operations to the U.S, Weerawarana was adamant on preserving the corporate in Sri Lanka. His determination, confronted by opposition from buyers and purchasers alike, was rooted in his conviction {that a} profitable tech agency can certainly originate from Sri Lanka.
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