99x Group with seven global companies emerges as new tech powerhouse
Daily FT: The 99x Group has emerged as a leading force in the global tech landscape, with seven companies from Norway, Malaysia, Sri Lanka, Brazil, and Portugal uniting to strengthen its position in product engineering services, IT consulting, and web solutions.
Bringing together over 600 employees worldwide, the group includes Seeds, LeanOn, Nextly, Cleverti, Incrementi, Clave, and 99x Technology. 99x is now poised to become one of Norway’s larger players in digital product development, continuing its rapid expansion after establishing a solid foundation over the past two years.
99x Group CEO Odd Sverre Ostlie said: “This is a significant milestone for us. Bringing our companies and people closer enables us to combine innovative thinking with deep technological expertise seamlessly. This strong foundation allows us to address our customers’ business challenges more effectively and deliver digital experiences at an entirely new level. We will continue to grow the group through healthy organic expansion, alongside strategic acquisitions in the Nordics and internationally.”
99x Sri Lanka and Malaysia CEO Hasith Yaggahavita said: “Our growth journey and global presence expanded in 2021 when we established our headquarters in Norway. This milestone paved the way for a series of strategic acquisitions, starting with Seeds Consulting Norway in 2021, followed by Nextly and LeanOn in Brazil, and Cleverti in Portugal in 2023. The most recent acquisition, Clave Consulting Norway, occurred in September 2024. These acquisitions align with the 99x Group’s strategy and each company’s unique service offering and I’m thrilled that this will create even more global opportunities for our employees to engage in complex technical challenges.”
99x Sri Lanka Chief Marketing and Corporate Affairs Officer Chrishan de Mel said: “Rebranding to 99x across most of our group companies is more than just a name change, it signifies our commitment to evolving and enhancing our service offerings. Our clients can expect the same dedication to excellence and innovation that has always defined us, now strengthened by the expanded digital expertise of all the companies within the 99x Group.”
The new brand elements have been designed to convey the essence of professional, cutting-edge tech innovations, combined with human creativity.
OSL take:
Sri Lanka’s target of becoming a regional hub and focus on transforming the country into a digital economy has resulted in much attention being paid to the country’s ICT industry. This in-turn has resulted in the expansion of business/investment opportunities in Sri Lanka’s ICT and digital infrastructure development industries. There is a growing demand for digital infrastructure development projects in Sri Lanka given the requirement to be on par with the fast-evolving global ICT industry. The growth and profits recorded by local businesses engaged in the ICT and digital infrastructure development industries are indicative of the lucrative nature of the business in Sri Lanka. The country’s plan to also become a regional hub supported by Sri Lanka’s geographical positioning in the Indian Ocean and the strong trade ties enjoyed with other countries have all made business/investment engagements with Sri Lanka lucrative with quick returns on investment. Foreign businesses/investors while exploring business/investment opportunities in Sri Lanka’s ICT and digital infrastructure development sectors could also look at forming collaborations with local businesses in these sectors to further develop and expand operations.
Article Code : | VBS/AT/20241018/Z_3 |