Try GOLD - Free
HNB backs $ 40 m Surge-Calcey merger to launch 'Short Circuit'
Daily FT
|August 04, 2025
IN a landmark move for Sri Lanka's digital economy, Surge Global and Calcey Technologies have joined forces in a $ 40 million transaction to form Short Circuit Ltd., — a regional tech powerhouse built to deliver transformation at scale, with deep operational discipline for growth-stage companies and enterprises alike.
-

The deal, backed by Hatton National Bank (HNB) and HNB Investment Bank, includes $ 4.5 million in debt financing and $ 1.5 million in equity from two global business leaders:
Sir Mahesh Patel OBE - is the founder of CPL Group, Papua New Guinea's largest retail and healthcare network, with over three decades of leadership in regional commerce and community development.
Le Shi - is Managing Director at Auros Global, a leading algorithmic trading and digital asset investment firm, where he oversees global strategy and growth across emerging technologies.
The combined group of Short Circuit employs over 500 people across Sri Lanka, India, Qatar, Singapore, and remote global delivery hubs.
As part of this merger, Surge Global Founder Bhanuka Harischandra has been appointed Group Managing Director of the newly formed entity. His leadership will steer Short Circuit through its next phase of growth — with a focus on long-term value creation.
This story is from the August 04, 2025 edition of Daily FT.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 10,000+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM Daily FT

Daily FT
EUDR: What is it and what are its implications?
Sri Lankan rubber exporters to EU from pillar to post?
8 mins
October 13, 2025

Daily FT
'Hello Amma' empowers mothers to re-enter workforce
Holds first Return-to-Work workshop
2 mins
October 13, 2025
Daily FT
Bairaha's 'THIRD EYE' App for visually impaired secures multiple wins at SLIM Digis 2.5
BAIRAHA Farms PLC claimed victory at the recent SLIM Digis 2.5, which took place at the Monarch Imperial, Sri Jayawardenepura Kotte.
1 min
October 13, 2025
Daily FT
Union Assurance pioneers digitisation of Advisor Life Cycle Management
UNION Assurance has set a new industry benchmark by becoming the first to fully digitise the Advisor Life Cycle Management process.
1 min
October 13, 2025

Daily FT
Sumathi IT introduces Sri Lanka's first DJI Dock 3 - boost public safety, infrastructure, and enterprise
SUMATHI Information Technologies Ltd., Geospatial Engineering Solutions provider and a subsidiary of Sumathi Holdings Ltd., unveiled the country’s first-ever DJI Dock 3 at The View — Waters Edge, with over 180 representatives from multiple Government and business sectors attending the event.
2 mins
October 13, 2025
Daily FT
BASL outraged over Police assault on lawyer inside Court
THE Bar Association of Sri Lanka (BASL) has expressed deep concern and outrage over the assault of an attorney-at-law by a Police officer within the Mount Lavinia Court premises, calling the incident “inexplicable” and urging the Inspector General of Police (IGP) to ensure such acts do not recur.
1 min
October 13, 2025
Daily FT
Islamic Finance Forum of South Asia celebrates decade of excellence
THE Islamic Finance Forum of South Asia (IFFSA) marked a landmark celebration this year, bringing together industry leaders, policymakers, and practitioners for its 10th edition at Shangri-La Colombo.
3 mins
October 13, 2025

Daily FT
Muslim politics and culture: Disturbing symbiosis
SINCE 1980s when Sri Lanka Muslim Congress (SLMC) entered the country’s political arena Muslim politics and Muslim culture began to develop a symbiotic relationship to strengthen the community's identity politics.
5 mins
October 13, 2025

Daily FT
New Companies Act requires full disclosure of beneficial owners amidst enforcement challenges
TARGETING hidden wealth, the new amendments to the Companies Act demands full disclosure of beneficial ownership, but secrecy and complex offshore structures will make enforcement difficult, said a panel of industry experts and stakeholders recently.
2 mins
October 13, 2025
Daily FT
ICCSL webinar empowers taxpayers as tax filing deadline draws closer
AS the closing date for filing income tax returns draws closer (on or before 30 November), taxpayers, auditors, and consultants are working against the clock to finalise their computations.
2 mins
October 13, 2025
Listen
Translate
Change font size