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Anura de Silva, iOnosphere
quote s CEO told Lanka Business Online that the new buyers paid lquote a little over Rs. 500 mn for the company
quote .

rnrniOnosphere, began operations last July with a US$ 2.5 mn investment to provide high end internet services. A further US$ 1.5 mn was expected to come in during the next stage of the project.

rnrniOnosphere Lanka, with its US counterparts was claimed to be one of the most sophisticated and modern IT communications providers in the region.

rnrnBut its US partners opted to pull out following a series of events including the September 11 attack in the US and the ongoing economic meltdown.

rnrnThe situations forced the present management to look for investors rather than think of launching their services as scheduled.

rnrniOnosphere
quote s network is powered by CISCO and Sun technology. The local office has also partnered with New Skies for satellite services, Telia for global peering, iPass for global roaming, Sri Lanka Telecom and Suntel. The company