{{Short description|Information technology consulting company}} {{Infobox company | name = Virtusa Corporation | logo = Virtusa_Logo.svg | image = | type = Private<ref>{{Cite press release|url=https://www.businesswire.com/news/home/20210211005751/en/Baring-Private-Equity-Asia-Completes-Acquisition-of-Virtusa|title = Baring Private Equity Asia Completes Acquisition of Virtusa|date = 11 February 2021}}</ref> | industry = Information technology services | genre = | foundation = {{start date and age|1996}} | founders = Kris Canekeratne <br> Tushara Canekeratne<br>John Gillis<br>Sandy Gillis | location = | location_city = Southborough, Massachusetts | locations = | area_served = Worldwide | key_people = Nitesh Banga (CEO) | products = | services = Digital engineering, IT consulting, business consulting, application development, product development, legacy asset management | revenue = {{increase}} US$1.8 billion (2023) | net_income = {{increase}} US$72 million (2023) | assets = {{increase}} US$1.337 billion (2020)<ref name=10K/> | equity = {{increase}} US$397 million (2020)<ref name=10K/> | num_employees = {{increase}} 35,000 (2023)<ref name=10K/> | parent = BPEA<ref name=10K/> | location_country = United States | homepage = {{URL|www.virtusa.com}} | footnotes = <ref name=10K>{{cite web | url=https://www.sec.gov/ix?doc=/Archives/edgar/data/1207074/000155837020007083/vrtu-20200528x10k.htm | title=Virtusa Corporation 2019 Form 10-K Annual Report | publisher=U.S. Securities and Exchange Commission}}</ref> }} thumbnail|180px|Virtusa at Orion City Sri Lanka '''Virtusa Corporation''' is an American information technology services company, based in Southborough, Massachusetts. It provides IT consulting, business consulting, and outsourcing services. It was founded in 1996 in Sri Lanka.
The company has several delivery centers in India and Sri Lanka with the ones in Hyderabad, Chennai and Colombo being the largest. In February 2021, Baring Private Equity Asia acquired the company for US$2 billion.<ref>{{Cite web |last=Kovar |first=Joseph F. |title=Virtusa To Be Acquired In $2 Billion Private Equity Play {{!}} CRN |url=https://www.crn.com/news/running-your-business/virtusa-to-be-acquired-in-2-billion-private-equity-play |access-date=2024-09-16 |website=www.crn.com}}</ref><ref name=":1">{{Cite web |title=Following $2B acquisition, Virtusa founder & CEO to depart |url=https://www.wbjournal.com/article/following-2b-acquisition-virtusa-founder-ceo-to-depart |access-date=2025-04-21 |website=Worcester Business Journal |language=en-US}}</ref>
== History == Virtusa was co-founded in 1996 by Kris Canekeratne, who was the company's chairman until his departure in 2021.<ref name=":0" /><ref name=":1" /> He was CEO from 1996 to 1997 and again from 2000 to 2021. Canekeratne stepped down as CEO in May 2021, and his seat as chairman was filled by Sander van‘t Noordende.<ref name=":0">{{Cite web |last=Novinson |first=Michael |date=2021-05-07 |title=Virtusa Founder, CEO Kris Canekeratne To Exit After 25-Year Run |url=https://www.crn.com/news/channel-programs/virtusa-founder-ceo-kris-canekeratne-to-exit-after-25-year-run |access-date=2023-11-11 |website=CRN |language=en}}</ref>
The company went public in 2007.<ref>{{Cite web |date=29 October 2015 |title=Virtusa Gives JPMorgan, Other Clients Tech Edge |url=https://www.nasdaq.com/articles/virtusa-gives-jpmorgan-other-clients-tech-edge-2015-10-29 |access-date=13 August 2024 |website=nasdaq.com}}</ref>
== Acquisitions == In November 2009, Virtusa acquired technology consulting company Insource for $7.3 million.<ref>{{Cite news | url=https://www.wbjournal.com/article/acquisition-for-virtusa | title=Acquisition For Virtusa | work=American City Business Journals | date=November 6, 2009}}</ref>
In 2010, Virtusa acquired ConVista Consulting, LLC, a US-based provider of collection, disbursement, claims and billing services.<ref>{{Cite web |title=Virtusa Acquires ConVista Consulting {{!}} Mergr M&A Deal Summary |url=https://mergr.com/transaction/virtusa-acquires-convista-consulting |access-date=2024-12-05 |website=mergr.com}}</ref>
In 2011, Virtusa acquired ALaS Consulting LLC, a financial services consulting firm.<ref>{{Cite web|url=https://www.bizjournals.com/boston/blog/mass-high-tech/2011/07/virtusa-buys-alas-consulting-for-28m.html|title=Virtusa buys ALaS Consulting for $28M|last=Brown|first=Rodney|date=Jul 5, 2011|website=www.bizjournals.com|access-date=2018-05-14}}</ref>
In November 2013, Virtusa acquired OSB Consulting LLC, a New Jersey–based consulting firm.<ref>{{Cite web |last=MarketScreener |date=2013-11-04 |title=Virtusa Corp. acquired substantially all of the assets of OSB Consulting LLC for approximately $13 million. - MarketScreener |url=https://www.marketscreener.com/quote/stock/VIRTUSA-CORPORATION-57307/news/Virtusa-Corp-acquired-substantially-all-of-the-assets-of-OSB-Consulting-LLC-for-approximately-13-m-38903992/ |access-date=2024-10-04 |website=www.marketscreener.com |language=en-US}}</ref>
In January 2014, Virtusa acquired TradeTech Consulting Scandinavia AB, a Stockholm-based provider of treasury and asset management IT services in the Nordic countries.<ref>{{cite news | url=https://www.business-standard.com/article/companies/virtusa-expands-europe-ops-with-tradetech-buyout-114011300474_1.html | title=Virtusa expands Europe ops with TradeTech buyout | work=Business Standard | date=January 13, 2014 }}</ref>
In April 2015, Virtusa acquired Apparatus, Inc., an IT infrastructure services provider headquartered in Indianapolis, Indiana, US.<ref>{{Cite web |title=Westborough's Virtusa acquires Apparatus Inc. |url=https://www.wbjournal.com/article/westboroughs-virtusa-acquires-apparatus-inc |access-date=2024-09-16 |website=Worcester Business Journal |language=en-US}}</ref> In November of that same year, Virtusa acquired a 53% stake in Polaris Consulting & Services Limited, India, a provider of IT services primarily to banking and financial services.<ref>{{Cite web|url=http://www.consultancy.uk/news/2886/it-giant-virtusa-buys-polaris-consulting-and-services|title=IT giant Virtusa buys Polaris Consulting and Services|website=www.consultancy.uk|date=6 November 2015|language=en|access-date=2018-05-14}}</ref>
On 12 March 2018, Virtusa Corporation acquired eTouch Systems Corp. and eTouch Systems Pvt. Ltd.<ref>{{Cite web |title=Virtusa to acquire data security solutions provider |url=https://www.spglobal.com/marketintelligence/en/news-insights/trending/sdgZ-nuFETzm3d8Iq4igJQ2 |access-date=2024-08-13 |website=www.spglobal.com |language=en-us}}</ref>
In September 2023, Virtusa acquired the Walnut Creek–headquartered creative agency, Factor Creative, for an undisclosed amount.<ref>{{Cite web |last=FinSMEs |date=2023-09-11 |title=Virtusa Acquires Factor Creative |url=https://www.finsmes.com/2023/09/virtusa-acquires-factor-creative.html |access-date=2024-08-13 |website=FinSMEs |language=en-US}}</ref>
In February 2024, Virtusa acquired BRIGHT, a Bulgaria-based IT services firm.<ref>{{Cite web |last=Miteva |first=Mihaela |date=12 February 2024 |title=US-based Virtusa acquires Bulgaria's Bright |url=https://seenews.com/news/us-based-virtusa-acquires-bulgarias-bright-1243866 |access-date=12 November 2024 |website=SeeNews}}</ref> In April of the same year, Virtusa acquired ITMAGINATION, a Warsaw, Poland-based technology company.<ref>{{Cite web |date=2024-04-04 |title=Virtusa announces acquisition of ITMAGINATION - AI-Tech Park |url=https://ai-techpark.com/virtusa-announces-acquisition-of-itmagination/ |access-date=2024-11-12 |language=en-US}}</ref>
In May 2025, Virtusa acquired Mav3rick, an Australia-based Salesforce and MuleSoft advisory and implementation partner.<ref>{{Cite web| title=Virtusa Bolsters Expansion Plans with Acquisition of Mav3rik | url=https://www.virtusa.com/news-room/press-releases/year_2025/may/virtusa-bolsters-expansion-plans-with-acquisition-of-mav3rik | archive-url=https://web.archive.org/web/20250522180520/https://www.virtusa.com/news-room/press-releases/year_2025/may/virtusa-bolsters-expansion-plans-with-acquisition-of-mav3rik | archive-date=2025-05-22}}</ref> In July of the same year, Virtusa acquired Sincera, a software development company.<ref>{{Cite web| title=Virtusa Announces Strategic Acquisition of Sincera to Accelerate AI and Data Transformation Capabilities for Telecommunications Clients | url=https://www.virtusa.com/news-room/press-releases/year_2025/july/virtusa-announces-strategic-acquisition-of-sincera-to-accelerate-ai-data-transformation-capabilities-for-telecommunications-clients | archive-url=https://web.archive.org/web/20250722221637/https://www.virtusa.com/news-room/press-releases/year_2025/july/virtusa-announces-strategic-acquisition-of-sincera-to-accelerate-ai-data-transformation-capabilities-for-telecommunications-clients | archive-date=2025-07-22}}</ref>
==References== {{Reflist|2}} *
Category:1996 establishments in Sri Lanka Category:2021 mergers and acquisitions Category:Companies based in Worcester County, Massachusetts Category:Companies formerly listed on the Nasdaq Category:Consulting firms established in 1996 Category:Information technology consulting firms of the United States Category:International information technology consulting firms Category:Software companies based in Massachusetts Category:Software companies established in 1996 Category:Software companies of the United States Category:Software companies of Sri Lanka Category:Southborough, Massachusetts Category:Private equity portfolio companies