99x Group CEO terms SL talent ‘shining star’ of global operations as firm drives AI innovation

Odd Sverre Ostlie

Hasith Yaggahavita

Mano Sekaram Pix by Pradeep Dilrukshana

The Colombo-based engineering team of the Norway-headquartered 99x Group has been termed the ‘shining star’ of its global operations, with Group CEO Odd Sverre Ostlie revealing that nearly 90 percent of the firm’s Artificial Intelligence (AI) innovation is now driven from Sri Lanka.

Speaking at a media briefing held in Colombo recently Ostlie outlined the rapid evolution of the company following a strategic pivot in its ownership structure.

Previously a Sri Lankan-led export firm, 99x transformed into a global group following a capital restructuring in 2021, secured through a US$ 20 million investment from the Scandinavian private equity firm Herkules Deal-by-Deal. This investment facilitated the establishment of a European headquarters in Norway and fueled an aggressive acquisition strategy, expanding the group’s footprint beyond Sri Lanka and Norway to include Portugal, Brazil, Malaysia, and Poland.

“In our global team of very good software engineering companies, we view our Sri Lankan team as the shining star in terms of both talent and capabilities,” Ostlie told the media. “I think our Sri Lankan engineering talent ranks among the best we have. I would say 90 percent of what we do on AI is being done here in Sri Lanka.”

The Group CEO noted that over the past 12 months alone, the group has grown from five to nine companies, pushing its total workforce from 500 to nearly 700 developers. Around 40 percent of this workforce is based in Sri Lanka.

He emphasised that the global software industry is shifting away from the traditional “cost arbitrage” model—where companies offshored work primarily to cut costs—toward a model prioritizing high-level engineering skill. To remain competitive, he stressed that Sri Lankan engineers must prove superior capability to their counterparts in Europe and the US, a benchmark he believes the local team has already met.

This focus on high-end innovation was underscored by the launch of ‘Agentri AI,’ an enterprise-grade agentic orchestration platform unveiled at the event. The new platform, which allows multiple AI agents to collaborate on complex business challenges, was spearheaded by the Colombo-based product engineering team, including 99x Product Engineering CEO Hasith Yaggahavita.

Ostlie also addressed concerns regarding the impact of AI on the workforce, dismissing fears of developer obsolescence. He argued that while AI lowers the barrier for coding, it increases the demand for “forward-deployed engineers”—professionals capable of bridging the gap between technical architecture and business needs without intermediate layers. Reflecting on the company’s trajectory, 99x Founder and Chairman Mano Sekaram highlighted how the firm’s success validates the strategy of targeting high-end export markets. He noted that the company’s focus on value addition has translated into significant economic benefits for the country and its employees.

“If you win the battle for talent, you will win the war in the marketplace,” Sekaram said. “Our per capita income is roughly US$ 30,000, which is almost 10 times the Sri Lankan average. It is about knowledge services taking Sri Lanka up the value chain and being a global market player.”

Looking ahead, Ostlie hinted at further consolidation, noting that the group is currently in active discussions to acquire another two or three companies in the near future to further strengthen their market access in Europe and the Americas. (NF)