Virtusa
BPEA[2] | |
| Website | www |
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| Footnotes / references [2] | |
Virtusa Corporation is an American-based global
data analytics
, and other technology consulting services to customers in 25+ countries in 50+ locations around the globe.
Virtusa is headquartered in
Baring Private Equity Asia acquired the company for US$2 billion.[3]
History
Virtusa was co-founded in 1996 by Kris Canekeratne and served as the company’s chairman until his departure in 2021. He served as CEO from 1996-1997 and again from 2000-2021.Canekeratne stepped down as CEO in May 2021, and his seat as chairman of the board was filled by Sander van‘t Noordende.[4]
Acquisitions
- In November 2009, Virtusa acquired Insource for $7.3 million. Insource is a technology consulting company which specialized in the insurance and healthcare industries. InSource is based in Hartford, Connecticut.[5]
- In 2010, Virtusa acquired ConVista Consulting, LLC,[6] a US-based, privately held market leader in finance transformation, specifically focusing on high volume collection, disbursement, claims and billing systems in BFSI.
- In 2011, Virtusa acquired a financial services consulting firm.
- In November 2013, Virtusa acquired OSB Consulting LLC, a New Jersey-based consulting firm specializing in the financial services and insurance domains, including SAP finance capabilities.[citation needed]
- In January 2014, Virtusa acquired TradeTech Consulting Scandinavia AB and its subsidiaries. TradeTech, headquartered in Stockholm, Sweden, is a consulting and IT services provider specializing in treasury and asset management for major financial institutions in the Nordic countries.[8]
- In April 2015, Virtusa acquired Apparatus, Inc.,[9] an IT infrastructure services provider headquartered in Indianapolis, Indiana, US.
- In November 2015, Virtusa acquired a 53% stake in Polaris Consulting & Services Limited, India,[10] a provider of IT solutions primarily to banking and financial services. Virtusa paid $270 million for the firm, which saw more than 7,500 employees join its global undertakings.
- On 12 March 2018, Virtusa Corporation acquired eTouch Systems Corp. and eTouch Systems Pvt. Ltd.[11]
- In September 2023, Virtusa acquired the Walnut Creek-headquartered creative agency, Factor Creative for an undisclosed amount.[12]
Operations
On 29 March 2018, Virtusa had around 20,000 employees.[13]
With offices throughout US, Europe and Asia, and advanced development centers in the United States, Europe and Asia.[14]
Competition
Some of its key competitors in the offshore IT services industry include
HCL and Tata Consultancy Services
.
Offices
- United States - New York, New York; Windsor, Connecticut
- Australia - Sydney, Melbourne
- Austria
- Canada - Toronto, Halifax
- Germany - Munich
- Hungary - Budapest
- India - Mumbai, Pune, Hyderabad, Chennai, Bangalore, Coimbatore, Gurgaon.
- Malaysia - Kuala Lumpur
- Netherlands - Amsterdam, The Hague
- Philippines - Taguig City
- Qatar - Doha
- Singapore
- Sri Lanka - Colombo
- Sweden - Stockholm, Gothenburg
- Switzerland - Zurich
- United Kingdom - London
- United Arab Emirates - Dubai
References
- ^ "Baring Private Equity Asia Completes Acquisition of Virtusa". 11 February 2021.
- ^ a b c d e "Virtusa Corporation 2019 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
- ^ "Baring Private Equity Asia Completes Acquisition of Virtusa" (Press release). Business Wire. February 11, 2021.
- ^ Novinson, Michael (2021-05-07). "Virtusa Founder, CEO Kris Canekeratne To Exit After 25-Year Run". CRN. Retrieved 2023-11-11.
- ^ "Acquisition For Virtusa". American City Business Journals. November 6, 2009.
- ^ a b "Virtusa Completes ConVista Buy". Mergers & Acquisitions. Retrieved 2018-05-14.
- ^ Brown, Rodney (Jul 5, 2011). "Virtusa buys ALaS Consulting for $28M". www.bizjournals.com. Retrieved 2018-05-14.
- ^ "Virtusa expands Europe ops with TradeTech buyout". Business Standard. January 13, 2014.
- ^ "Virtusa Expands Infrastructure Management Services with the Acquisition of Apparatus" (Press release). Virtusa. April 1, 2015.
- ^ "IT giant Virtusa buys Polaris Consulting and Services". www.consultancy.uk. 6 November 2015. Retrieved 2018-05-14.
- ^ "Virtusa Expands Digital Engineering Capabilities with the Acquisition of eTouch". www.virtusa.com. March 12, 2018. Retrieved 2018-05-14.
- ^ "Virtusa Acquires Factor Creative". www.Virtusa.com. 2023-09-11. Retrieved 2023-09-12.
- ^ Mendonca, Jochelle. "Investor Sheet". The Economic Times. Integrated Corporate Relations (ICR). Retrieved 29 Mar 2018.
- ^ "Worldwide Locations". Virtusa.com. Retrieved 16 Apr 2015.