SLTC Divests from Sri Lanka Telecom in Management Buy-Out

A management buy-out backed by Tempest two (Pvt) Ltd is gearing to acquire SLT Campus (Pvt) Ltd (popularly known as Sri Lanka Technological Campus) from Sri Lanka Telecom PLC in order to launch SLTC towards its ultimate objective of being Sri Lanka’s first and most recognized research-oriented university.

Having been initiated and funded by SLT, SLTC has reached a formidable position in the higher education industry within a short span of 5 years, having recently won the Most Emerging Education Institute in South Asia Award in 2019. As it is imperative that an education institute is independently governed to ensure autonomous and steady growth, the management of SLTC sought to distinguish SLTC from SLT.

Considering the propositions of the management, SLT opted for this divesture which is now taking shape.The current investors who are well known in the education spheres are keen on letting SLTC function its academic operation entirely through SLTC’s current Governing Council which consists of senior academics and eminent persons and for SLTC to be managed primarily through its Executive Committee. The Management of SLTC is confident that SLTC  will be better placed to establish its identity and achieve its 5 year business plan  more efficiently through this divesture and the independence that SLTC gains as a result.