Fashion platform Zilingo acquires Lankan software firm nCinga for $15.5m

Zilingo production software.

Singapore-based fashion platform Zilingo has acquired Sri Lanka-based software-as-a-service (SaaS) firm nCinga Innovations for $15.5 million in cash and stock, marking one of the largest tech exits in Sri Lanka in recent times.

nCinga, which is backed by Sri Lanka and Singapore-based venture capital firm BOV Capital, uses IoT technologies, real-time event capturing and processing, predictive analytics, and mobility devices for a ‘smart factory’ transformation.

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