LSEG sells MillenniumIT Enterprise business to Lanka Century Investments

Business

Lanka Century Investments, a Sri Lankan conglomerate, has acquired a unit of MillenniumIT from the London Stock Exchange in an acquisition that caught the market by surprise as it closes for the year 2017. The announcement was made on Thursday to the Colombo Stock Exchange. There was no information on the cost or value of the transaction.

Under the terms of the agreement, Lanka Century Investments (LCI) will acquire 100 per cent control of MillenniumIT ESP from the London Stock Exchange (LSEG) with management and shareholding control. However LSEG will retain full ownership of MillenniumIT Software, the trading technology and software development component of the business.
Also as part of the agreement, LCI will 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. - ENDS -

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