EPIC Lanka acquires Affiniti Innovations

Friday, 19 April 2024 00:30 - - {{hitsCtrl.values.hits}}

Epic Lanka Ltd., the digital transformation and fintech pioneer in Sri Lanka, said yesterday it has acquired Affiniti Innovations Ltd., a leading technology firm specialising in collection and recovery management software, for an undisclosed sum.

With this acquisition, Epic will own 100% ownership of Affiniti Innovations, formerly a joint venture between Avonet Technologies and David Pieris Group.

This is the first time in the company’s history that Epic has acquired another company.

Epic said the acquisition gives Epic sole ownership of Affiniti’s assets including Intellectual Properties (IP), client base, and solution initiatives implemented at leading firms and state universities.

Affiniti’s IPs include its CRM and three intelligent debt collection products. This strategic acquisition is expected to further strengthen Epic’s product solutions suite and provide access to foreign markets in which Affiniti operates, such as Australia and Dubai.

Epic said it has a proven history of over 25 years in the IT industry with many innovations that have earned national and international recognition.