Sri Lanka’s Surge Global and Calcey Technologies have joined hands in a $40 million merger to launch Short Circuit Pte Ltd, a tech company focused on regional scale with “deep operational discipline for growth-stage companies and enterprises.” The deal is backed by HNB with $4.5 million in debt financing and $1.5 million in equity from CPL Group’s Mahesh Patel and Le Shi of Auros Global.
The formation of Short Circuit brings together full-stack product engineering, UX design, performance marketing, and commercialization. The group employs over 500 people spanning across Sri Lanka, India, Qatar, and Singapore. With a presence already in North America, Europe, the Middle East, and Asia, Short Circuit aims to grow its footprint further over the next few years.
We see Short Circuit as a highly structured, investable business. The leadership’s financial clarity, disciplined approach, and investor alignment make this a standout transaction.
Ray Abeywardena, CEO of HNB Investment Bank
As part of the deal, Surge Global’s Bhanuka Harischandra will head the newly formed entity as its Group Managing Director, with Dave Chesson as the Group Chairman and Mahesh Patel as a Director. Calcey’s Mangala Karunaratne is also on the Board as a director, but will be stepping away from the company’s daily operations.
Back in 2002, Mangala founded Calcey Technologies in Sri Lanka following the dot-com bubble bust. Over the years, the company grew into a leading tech company in the country, employing over 150 people with a clientele covering North America, Europe, and Australia.
“I first met Bhanuka in 2014 at a startup conference. He was a 20-year-old who simply wanted to build a globally competitive digital marketing company out of Sri Lanka. I saw the fire and the chip on his shoulder, I got involved then and there as an advisor and an investor,” comments Mangala.
Damith Pallewatte – MD/CEO of Hatton National Bank | Bhanuka Harischandra – Group MD of Short Circuit | Mangala Karunaratne – Director of Short Circuit | Maud Meister – Former Head of Global Strategy of Airbnb | Michael Dailey – Former Vice President of Morgan Stanley
From bottom left to right;
Ray Abeywardena – CEO of HNB Investment Bank | Dave Chesson – Group Chairman of Short Circuit | Sir Mahesh Patel – Director of Short Circuit | Le Shi – MD of Auros Global | Pete Deemer – Founder of GameSpot
“We’re not just another digital services firm. Short Circuit is built to operate like a performance-led platform – part execution, part investment engine,” says Bhanuka. He goes on to state, “We’re here to take bold, calculated bets, build actual service quality, and create real IP. This isn’t about bloated scale, it’s about building something durable, disciplined, and valuable.”
Wow, it’s a great news for us as an anadians and nany congratulations to them
He just went to Ananda. Thats it, He has said didnt do well on Academics.