- MillenniumIT ESP enters into a strategic partnership with MintHRM with an equity partnership of 39%, a business partnership to provide market access and a technology partnership to further develop the platform
MillenniumIT ESP – one of Sri Lanka’s leading Systems Integrator and Information Systems – recently formed a strategic partnership with MintHRM, a cloud based Human Resource Information System provider, to serve its key markets with a diverse portfolio of solutions focusing on human capital transformation and management.
Human capital transformation and management is a prime focus area for businesses embarked on their digital transformation journeys around the globe. Known for transforming business operations through the use of integrated solutions, technology and automation, MillenniumIT ESP has identified the need to develop, transform and retain human capital as a catalyst for success.
The company intends to offer a portfolio of innovative solutions and services encompassing the area of human capital development and transformation across its key business sectors such as Banking and Finance, Telecommunications, Leisure, and Manufacturing, realigning the way in which people function and helping businesses to achieve more with less.
“This partnership is the first among many strategic partnerships to come as MillenniumIT ESP leverages its core technical capabilities, its broad market reach and financial strength to enrich capabilities of growth stage innovative startups and accelerate their growth,” said MillenniumIT ESP Head of Technology Alliances and Innovation Rahal Jayawardene.
“This strategic partnership will present a unique opportunity to create mutual value; MillenniumIT ESP to expand its portfolio of offerings in the human capital transformation and management sphere and MintHRM to gain better market access and enhance its technology platform with MillenniumIT ESP’s existing Cloud, AI, IOT, Data and DevOps capabilities,” he stated.
MintHRM will further benefit from this partnership as MillenniumIT ESP will support and facilitate their next phase of growth through a multitude of funding instruments such as equity and guarantees.
“This is a significant milestone in the short history of MintHRM. We consider MillenniumIT ESP as one of the most respected and technologically progressive IT companies in Sri Lanka and we view this as a strategic partnership that would elevate the MintHRM platform with the technological expertise and market reach of MillenniumIT ESP, as we strive to expand our footprint in the global arena,” said Mint HRM CEO Namal Gunawardhane.
MintHRM, incorporated in 2011, serves over 40 local and international Corporates, with a total of over 13,000 users benefitting from the affordable, flexible Human Resources Information System (HRIS). The system connects all users to one platform regardless of the time, place and device, presenting critical data in an easy to comprehend visual manner, allowing users to make timely and effective well-informed decisions making businesses more impactful and lucrative.
This strategic partnership was facilitated by PricewaterhouseCoopers (PwC), Sri Lanka.
“We are pleased to have been successful in bringing together a leading technology company in Sri Lanka with a promising and innovative HRIS player that has made significant strides in providing tech enabled HR solutions locally and regionally. We see much potential for future business synergies for both players,” said PwC Sri Lanka PPP Advisory and Deals Strategy Director Ruvini Fernando. “When PwC’s Deals Strategy team was mandated with the fund raise for MintHRM, we focused on not just bringing in capital to a tech startup, but in creating a meaningful business relationship that will last long beyond that.”
“In today’s dynamic world, organisations are embracing change and thereby transforming themselves to grow exponentially. In order to compete, survive and be relevant, organisations must rethink the way they engage and leverage, arguably their biggest asset, the human capital. Most successful organisations do so by creating an agile work force, who live with their organisation’s purpose and values day in day out, and fostering a culture of learning, collaboration and innovation,” stated MillenniumIT ESP Director and Ambeon Capital PLC and Ambeon Holdings PLC Group Managing Director Murali Prakash.
“With decades of experience and expertise in technology, innovation, and transformation, MillenniumIT ESP is keen to introduce new age technologies in collaboration with its strategic partners in order to meet emerging needs and drive sustainable and profitable business outcomes.
“This partnership with MintHRM is a first of its kind, and I am quite certain, with enhanced capabilities that MillenniumIT ESP possess, more such partnerships will emerge, not only creating benefits to customers but also creating sustainable long-term value for all shareholders and Sri Lanka as a whole.”
MillenniumIT ESP is a subsidiary of Ambeon Holdings PLC, a conglomerate reputed for its market dominance in the areas of financial services, manufacturing, real estate, technology and strategic investments. The Company is one of Sri Lanka’s leading information systems solutions providers delivering IT solutions for many industries; including banks and finance companies, telecommunications, apparel and leading conglomerates. Solutions provided by the Company include Core Infrastructure, Information Security, Business Collaboration, Near-Field Communications, Business Productivity, Cloud, Networking and Managed Services. The Company also boasts about the several global partnerships with leading firms including Oracle, Microsoft, IBM, Dell, Hitachi, Cisco and Infosys. It has also received several excellence, innovation and performance-based awards across various markets for its services around the globe.
Photo Caption: (left to right) MillenniumIT ESP CFO Dinuka Perera, Head of Technology Alliances & Innovation Rahal Jayawardene and Director/Ambeon Group Managing Director Mr. Murali Prakash with MintHRM Founders Namal Gunawardhane and Thanuja Masakorala alongside PWC’s Director Public Private Partnerships & Deal Strategy Ruvini Fernando, Analyst Nishellie Rajapaksha and Associate Consultant Corporate Finance, Valuation Consulting & Real Estate Advisory Viraine Senadheera