Millennium Information Technologies Celebrates Ten Years of Innovation
MALABE - August 8, 2006
From an organisation with 14 employees working out of a small office in Colombo to its current workforce of 450 people in five international offices, Millennium Information Technologies (MillenniumIT) remains dedicated to its first mission – innovation.
“Ten years ago we had a vision. But, even in our dreams we never dreamt the heights we would climb to” says Tony Weeresinghe, the CEO and ideas man behind the Company. “This year, our BID (Business Innovation-Dynamically) technology was awarded a patent by the US Trademark and Patent Office. This marks a significant milestone in the technology that Millennium has developed and successfully implemented. However, this is just one of the many milestones MillenniumIT has achieved over the past ten years”
In its first year of operations, MillenniumIT won significant contracts: a systems integration contract from Telia of Sweden for Suntel and the implementation of a Central Depository System at the Colombo Stock Exchange. In 1997, the Company implemented the First Event Driven Stock Exchange system in the world in partnership with Tibco Software at the Colombo Stock Exchange. And, in that same year, MillenniumIT built the first suite of mobile phone application software for Dialog GSM. Today, having implemented Capital Markets automation systems in ten stock exchanges the world over, trading volumes of over US$25 billion a day, the Company continues to improve the lives of people and businesses, staying true to one guiding vision: Innovation is Power.
From its inception, MillenniumIT broke new ground, creating many industry firsts. Notable firsts achieved include in 1999 being the first IT Company in Sri Lanka to raise international Venture Capital funding and building the first Silicon Valley style software campus in the country in 2002.
In 1996, when MillenniumIT was incorporated, it was one of the first companies in Sri Lanka to share wealth with employees, by way of an ESOP. As with the cutting-edge technology the Company builds, the practice of challenging staff to rise above expectations continues. The Company has a saying that “where real-time meets the real world, real people matter most”. Over the past decade, MillenniumIT has recorded compounded annual profit growth of 35% and passed several milestones on its way up.
Some of these milestones include: Implementing Systems in Croatia (1998); Malaysia – MESDAQ (2000) and Exchange Labs in the United States (2001). In 2002 Millennium IT was awarded the contract to implement a Trading System for one of the largest Fixed Income Exchanges in the world (identity of the client cannot be revealed due to non-disclosure agreements in place), this trading system is now running live as of September 2005.
MillenniumIT has also implemented systems for the Stock Exchange of Mauritius, Nairobi Stock Exchange, the Central Bank of Ghana, the Capital Markets Authority in Kenya and the Dar es Salaam Stock Exchange in Tanzania.
In 2005 MillenniumIT won a contract to provide an Automated Equity and Options Trading System for one of the three Primary Stock Exchanges in the United States (again, identities cannot be revealed due to non-disclosure agreements in place).
MillenniumIT’s Enterprise and Service provider business has also achieved many milestones. They were the first Company in the region to implement Oracle Advanced Replication at the Colombo Stock Exchange in 1996, build the first international VOIP gateway for Dialog Telekom using soft switch technology with voice regulation (2003), and most recently, in association with one of its technology partners, was awarded the contract to build Sri Lanka Telecom’s countrywide Intranet solution (2006).
MillenniumIT has many important constituencies to thank for its success, including: Customers who have believed in MillenniumIT and substantially invested in the Company’s products and services; employees, who have worked passionately and tirelessly, to deliver on the Company's vision; Global partners especially Sun Microsystems, Cisco Systems, Oracle Corporation, Infosys Technologies; and the Company’s shareholders. All of these stakeholders have inspired the Company and helped it determine its product and services roadmap.
Today, while MillenniumIT continues to power enterprises in finance and telecommunications industries, it continues its investment in people, as it remains committed to its guiding vision “Innovation is Power”.
About MillenniumIT®
Millennium Information Technologies is a cutting-edge software developer and marketer specialising in the capital markets and telecommunications industries. The Company’s automated trading system, Millennium Exchange™, currently powers several stock exchanges and depositories in the United States, Europe, Africa and the Asia-Pacific region. In Sri Lanka, MillenniumIT is also a trusted IT architecture, service and consulting provider creating innovative, scalable solutions for business and industry in association with our technology partners. For more information please visit our Web site at www.millenniumit.com..
For any further information please contact :
Ms. Aruni Gautamadasa
Tel : 2416103
Fax : 2413227
E-mail : arunig@millenniumit.com |
