Lanka Century Investments acquires enterprise solutions business of Millennium Information Technologies
In a strategic move to diversify into the IT solutions domain, Lanka Century investments PLC. (LCI), a conglomerate reputed for its market dominance in manufacturing, real estates and strategic investments, announced yesterday that it has completed the acquisition of the global IT enterprise solutions provider, Millennium information Technologies Pvt. Ltd., (MillenniumIT ESP).
Under the terms of the agreement, LCI will acquire a 100% stake of MillenniumIT ESP from London Stock Exchange Group (LSEG) with management and shareholding control.
As part of this acquisition agreement, LCI will also enter into a wider ownership plan with the employees of MillenniumIT ESP giving them an equity stake and enabling them to play a significant role in shaping the company's future as owner managers...