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{{Infobox company
{{Infobox company
| name = Tekxeon Interconnect Private Limited.
| name = Virtua Corporation
| logo = [[Image:Tekxeon_Logo.png|150 px |Tekxeon Logo]]
| logo = [[Image:virtusa logo.png|150 px |virtusa Logo]]
| foundation = 2008- June [[Colombo]], [[Sri Lanka]]
| type = Public
| traded_as = {{NASDAQ|VRTU}}
| founder = Saranga Panapitiya
| genre =
⚫
| location_city = [[Ethul Kotte]], [[Colombo]]
| foundation = 1996- [[Massachusetts]], [[USA]]
⚫
| location_country = [[Sri Lanka]]
| founder = Kris Canekeratne <br> Tushara Canekeratne
⚫
| location_city = [[Westborough]], [[Massachusetts]]
⚫
| location_country = [[USA]]
| location =
| location =
| locations =
| locations =
| area_served = [[Sri Lanka]]
| area_served = [[United States]], [[United Kingdom]], [[Germany]], [[The Netherlands]], [[Hungary]], [[India]], [[Singapore]] and [[Sri Lanka]]
| key_people =
| key_people =
| industry = [[Networking]], [[Data Center]] Infrastructure development, [[Information Technology]] Services
| industry = [[Information Technology]] Services
| products =
| products =
| services = Human Resources Outsource Services for HR Consultation, Management and Payroll Services
| services = Consulting, Business Consulting, Application Development, Product Development, Legacy Asset Management
| revenue = [[United States dollar|$]] {{profit}} $479.9 million (FY15)<ref name="finance.yahoo.com">http://finance.yahoo.com/news/virtusa-announces-fourth-quarter-full-200500687.html</ref>
| net_income = [[United States dollar|$]] {{profit}} 34.4 million (FY15)<ref name="finance.yahoo.com">http://finance.yahoo.com/news/virtusa-announces-fourth-quarter-full-200500687.html |title=Virtusa Announces Fourth Quarter and Full Year Fiscal 2014 Consolidated Financial Results</ref>
| num_employees = 9000 (As of 2015)<ref>{{cite web|url=http://www.virtusa.com/about-virtusa/company-overview/ |title=About the Company |publisher=Virtusa |date= |accessdate=2013-02-07}}</ref>
| parent =
| parent =
| divisions =
| divisions =
| subsid =
| subsid =
| homepage = [http://www.tekxeon.com/ www.tekxeon.com]
| homepage = [http://www.virtusa.com/ www.virtusa.com]
| footnotes =
| footnotes =
| intl =
| intl =
}}
}}


'''Virtusa Corporation''' (NYSE: VRTU) is a global [[information technology]] services company founded in 1996 with its headquarters in [[Westborough, Massachusetts]], [[USA]]. The company provides IT Consulting, Business Consulting, Systems Implementation and Application [[Outsourcing]] services to large enterprises and software vendors.
'''Texeon Interconnect (Pvt)''' Limited, is a multi-faceted IT solution integrator which is focused in the Networking, Data Center Infrastructure development, Information Technology Services and Network Cabling in Sri Lanka, Maldives and Seychelles. In addition they provide Human Resources Outsource Services for HR Consultation, Management and Payroll Services, etc.

The company, founded in 1996, has delivery centers in [[U.S.]], [[U.K.]], [[Singapore]], [[Germany]], [[Malaysia]], [[Netherlands]], [[India]], and [[Sri Lanka]].


==History==
==History==


Virtusa was founded in 1996, with the objective to assemble global teams that could innovate and help clients accelerate their time-to-market, as opposed to spending time on mundane tasks. In the late nineties, software development was plagued by issues like coding inefficiencies, cost over-runs and delays in releases. Kris Canekeratne’s view when founding Virtusa, was to apply the notion of platforms to software development. The company was initially named as “Software solutions” and later renamed as ‘Technology Providers International’. In 1998, the company opened their head office at [[Westborough, Massachusetts]] and the company was incorporated as Technology Providers Inc. in the [[United States]]. In the year 2000, Technology Providers International was renamed as ‘eRUNWAY Inc.’ and offered eBusiness, Internet software development and systems integration services. eRUNWAY was re-launched as ‘Virtusa Corporation’ on April 22, 2002. Virtusa went public on August 3, 2007 by listing on the [[NASDAQ]] exchange.
With a humble beginning in 2008, June as Tekxeon Interconnect, the company grew from strength to strength, achieving the highest customer satisfaction with a new perspective and direction of [[information technology]] industry. As a [[business]], they deliver [[innovations]] that matter to their clients by offering a vast amount of new technologies and options.


==Overview==
==Acquisitions==
* In 2009, acquired InSource,<ref name="insurancetech1">{{cite web|url= http://www.insurancetech.com/management-strategies/virtusa-acquires-insource/221600806 }}</ref> a technology consulting company which specialized in Insurance and Healthcare industries. InSource[3] is based in Hartford, Connecticut, USA.
Tekxeon Specialize in [[Structured Cabling]] for [[Data Network]], [[Voice]]/[[Telephone]] infrastructure Solution, Power Wiring & [[Server room]] deployments, Design, Supply & Implement all Active and [[Passive Network]] products, Managed Wireless Solution ([[Wi-Fi Zone]]), [[Microsoft]] and [[Open Source Server Solutions]], [[Computer Hardware]] and Accessories, Information and [[Wi-Fi Kiosk]], [[Point of Sales Systems]], Supply and Install [[CCTV]]/[[IPTV]] equipment & cabling, [[UPS]] & Power Line [[Communication]] Solutions etc, in [[Sri Lanka]].
* In 2010, Virtusa acquired ConVista Consulting, LLC,<ref name="themiddlemarket1">{{cite web|last=Marino |first=Jonathan |url= http://www.themiddlemarket.com/news/virtusa-completes-convista-buy-202700-1.html }}</ref> a U.S.based, privately held, market leader in finance transformation, specifically focusing on high volume collection, disbursement, claims and billing systems in BFSI. In the following year,
* In 2011, Virtusa acquired ALaS Consulting LLC,<ref>{{cite web |url= http://www.themiddlemarket.com/news/virtusa-completes-convista-buy-202700-1.html }}</ref> 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.
* At the start of 2014, Virtusa announced that it has acquired all the outstanding shares of 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.
* In 2015, Virtusa acquired all the outstanding shares of Apparatus, Inc.,<ref>{{cite web |url= http://finance.yahoo.com/news/virtusa-expands-infrastructure-management-services-202900207.html }}</ref> an IT infrastructure services provider headquartered in Indianapolis, Indiana.
[[File:Virtusa.jpg|thumbnail|180px|Virtusa at Orion City Sri Lanka]]


==Operations==
Tekxeon have experience in serving multi industries such as [[Telecommunication]], [[IT]] & [[Software]], [[Education]], [[Manufacturing]] and Sales, Advertising & Printing, Leisure & Hospitality Service, Construction, Health care, Aviation, Financial Institution, Government and Non-Profit Organization, and many more.
On 31 December 2014, Virtusa had 112 clients across the world, with 9023 employees.<ref name=Virtusa_Factsheet>{{cite web |url=http://phx.corporate-ir.net/External.File?item=UGFyZW50SUQ9MjY5MDkzfENoaWxkSUQ9LTF8VHlwZT0z&t=1 |publisher=Integrated Corporate Relations (ICR) |title= Investor Sheet |accessdate=16 Apr 2015}}</ref>


'''Locations''': Virtusa has a global presence with offices throughout US, Europe and Asia and advanced development centers in the United States, Europe and Asia.<ref>{{cite web |url=http://www.virtusa.com/about-virtusa/company-overview/ |title=Worldwide Locations |publisher=Virtusa.com |accessdate=16 Apr 2015}}</ref>
==Office==
⚫
* ''[[Sri Lanka]]'' - [[Battharamulla]] Road, [[Ethul Kotte]]


==External links==
==Competition==
Some of its key competitors in the Offshore IT Services industry include [[Infosys]], [[Wipro]], [[Cognizant]], [[HCL Technologies|HCL]] and [[Tata Consultancy Services]] among other organizations.
⚫
* [http://www.tekxeon.com/ Tekxeon Interconnect]


==Community Support==
The company has a community support program that focuses on education and uses its IT competencies for meeting the needs of the community.
* A team from Virtusa designed and developed a school management system, AKURA,<ref>{{cite web |url= http://www.sundaytimes.lk/120603/BusinessTimes/bt16.html }}</ref> to assist schools with an effective mechanism to manage daily activities involved in running a school. The school management system allows easy and centralised access to student information such as their schedule, report cards, attendance, grades, extracurricular activities, etc., as well as teacher information such as experience, schedules, etc. Through the system teachers and parents can collaboratively view students’ progress. The system has been adopted by schools and universities from across different countries and downloaded more than 6,000 times.<ref>{{cite web |url= http://finance.yahoo.com/news/virtusa-wins-2012-witsa-global-140000339.html }}</ref>
* Virtusa facilitated setting up IT laboratories for fifty schools in the Uva province of Sri Lanka. The program was carried out in partnership with a local university in Sri Lanka.<ref>{{cite web |url=http://www.sundaytimes.lk/090315/FinancialTimes/ft317.html |title=Virtusa supports 50 rural schools – Press Releases on |publisher=The Sunday Times |date=2010-07-29 |}}</ref>
* Earlier, in 2010, the company leveraged its technology/QA expertise to support the One laptop per child (OLPC) program<ref>{{cite web|url=http://www.csrwire.com/press_releases/30163--Virtusa-supports-One-Laptop-per-Child-Program |title=Virtusa supports One Laptop per Child Program – Press Releases on |publisher=Csrwire.com}}</ref>
* In the wake of Tsunami in 2004, its employees actively participated in the development of [[Sahana]], an open source based disaster management.

==Offices==
* ''[[USA]]'' - [[Westborough, Massachusetts]] (Corporate Headquarters), [[New York]], [[Windsor, Connecticut]]
* ''[[United Kingdom]]'' - [[London]]
* ''[[Germany]]'' - [[Munich]]
* ''[[Austria]]'' - [[Austria]]
* ''[[Switzerland]]'' - [[Zurich]]
* ''[[The Netherlands]]'' - [[Amsterdam]], [[The Hague]]
* ''[[Sweden]]'' - [[Stockholm]], [[Gothenburg]]
* ''[[Hungary]]'' - [[Budapest]]
* ''[[India]]'' - [[Hyderabad]], [[Chennai]], [[Bangalore]], [[Mumbai]], [[Pune]]
⚫
* ''[[Sri Lanka]]'' - [[Colombo]]
* ''[[Singapore]]'' - [[Singapore]]
* ''[[Malaysia]]'' - [[Kuala Lumpur]]
* ''[[Philippines]]'' - [[Taguig City]]

==References==
{{Reflist|1}}

==External links==
⚫
* [http://www.virtusa.com/ Virtusa]
* [http://finance.google.com/finance?q=VRTU&hl=en/ Google Finance Profile]
* [http://www.wbjournal.com/article/20110103/PRINTEDITION/301039972/qa-with-krishan-a-canekeratne-virtusa-corp/ Q&A with Krishan A. Canekeratne, C.E.O, Virtusa Corp]


[[Category:IT companies of Sri Lanka]]
[[Category:Companies established in 1996]]
[[Category:Software companies of Sri Lanka]]
[[Category:Software companies based in Massachusetts]]
[[Category:International information technology consulting firms]]
[[Category:Companies listed on NASDAQ]]

Revision as of 15:28, 31 May 2015

Virtua Corporation
Company typePublic
Nasdaq: VRTU
IndustryInformation Technology Services
Founded1996- Massachusetts, USA
FounderKris Canekeratne
Tushara Canekeratne
Headquarters
Westborough, Massachusetts
,
USA
Area served
United States, United Kingdom, Germany, The Netherlands, Hungary, India, Singapore and Sri Lanka
ServicesConsulting, Business Consulting, Application Development, Product Development, Legacy Asset Management
Revenue$ Increase $479.9 million (FY15)[1]
$ Increase 34.4 million (FY15)[1]
Number of employees
9000 (As of 2015)[2]
Websitewww.virtusa.com

Virtusa Corporation (NYSE: VRTU) is a global information technology services company founded in 1996 with its headquarters in Westborough, Massachusetts, USA. The company provides IT Consulting, Business Consulting, Systems Implementation and Application Outsourcing services to large enterprises and software vendors.

The company, founded in 1996, has delivery centers in U.S., U.K., Singapore, Germany, Malaysia, Netherlands, India, and Sri Lanka.

History

Virtusa was founded in 1996, with the objective to assemble global teams that could innovate and help clients accelerate their time-to-market, as opposed to spending time on mundane tasks. In the late nineties, software development was plagued by issues like coding inefficiencies, cost over-runs and delays in releases. Kris Canekeratne’s view when founding Virtusa, was to apply the notion of platforms to software development. The company was initially named as “Software solutions” and later renamed as ‘Technology Providers International’. In 1998, the company opened their head office at Westborough, Massachusetts and the company was incorporated as Technology Providers Inc. in the United States. In the year 2000, Technology Providers International was renamed as ‘eRUNWAY Inc.’ and offered eBusiness, Internet software development and systems integration services. eRUNWAY was re-launched as ‘Virtusa Corporation’ on April 22, 2002. Virtusa went public on August 3, 2007 by listing on the NASDAQ exchange.

Acquisitions

  • In 2009, acquired InSource,[3] a technology consulting company which specialized in Insurance and Healthcare industries. InSource[3] is based in Hartford, Connecticut, USA.
  • In 2010, Virtusa acquired ConVista Consulting, LLC,[4] a U.S.based, privately held, market leader in finance transformation, specifically focusing on high volume collection, disbursement, claims and billing systems in BFSI. In the following year,
  • In 2011, Virtusa acquired ALaS Consulting LLC,[5] 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.
  • At the start of 2014, Virtusa announced that it has acquired all the outstanding shares of 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.
  • In 2015, Virtusa acquired all the outstanding shares of Apparatus, Inc.,[6] an IT infrastructure services provider headquartered in Indianapolis, Indiana.
Virtusa at Orion City Sri Lanka

Operations

On 31 December 2014, Virtusa had 112 clients across the world, with 9023 employees.[7]

Locations: Virtusa has a global presence with offices throughout US, Europe and Asia and advanced development centers in the United States, Europe and Asia.[8]

Competition

Some of its key competitors in the Offshore IT Services industry include Infosys, Wipro, Cognizant, HCL and Tata Consultancy Services among other organizations.

Community Support

The company has a community support program that focuses on education and uses its IT competencies for meeting the needs of the community.

  • A team from Virtusa designed and developed a school management system, AKURA,[9] to assist schools with an effective mechanism to manage daily activities involved in running a school. The school management system allows easy and centralised access to student information such as their schedule, report cards, attendance, grades, extracurricular activities, etc., as well as teacher information such as experience, schedules, etc. Through the system teachers and parents can collaboratively view students’ progress. The system has been adopted by schools and universities from across different countries and downloaded more than 6,000 times.[10]
  • Virtusa facilitated setting up IT laboratories for fifty schools in the Uva province of Sri Lanka. The program was carried out in partnership with a local university in Sri Lanka.[11]
  • Earlier, in 2010, the company leveraged its technology/QA expertise to support the One laptop per child (OLPC) program[12]
  • In the wake of Tsunami in 2004, its employees actively participated in the development of Sahana, an open source based disaster management.

Offices

References

  1. ^ a b http://finance.yahoo.com/news/virtusa-announces-fourth-quarter-full-200500687.html Cite error: The named reference "finance.yahoo.com" was defined multiple times with different content (see the help page).
  2. ^ "About the Company". Virtusa. Retrieved 2013-02-07.
  3. ^ http://www.insurancetech.com/management-strategies/virtusa-acquires-insource/221600806. {{cite web}}: Missing or empty |title= (help)
  4. ^ Marino, Jonathan. http://www.themiddlemarket.com/news/virtusa-completes-convista-buy-202700-1.html. {{cite web}}: Missing or empty |title= (help)
  5. ^ http://www.themiddlemarket.com/news/virtusa-completes-convista-buy-202700-1.html. {{cite web}}: Missing or empty |title= (help)
  6. ^ http://finance.yahoo.com/news/virtusa-expands-infrastructure-management-services-202900207.html. {{cite web}}: Missing or empty |title= (help)
  7. ^ "Investor Sheet". Integrated Corporate Relations (ICR). Retrieved 16 Apr 2015.
  8. ^ "Worldwide Locations". Virtusa.com. Retrieved 16 Apr 2015.
  9. ^ http://www.sundaytimes.lk/120603/BusinessTimes/bt16.html. {{cite web}}: Missing or empty |title= (help)
  10. ^ http://finance.yahoo.com/news/virtusa-wins-2012-witsa-global-140000339.html. {{cite web}}: Missing or empty |title= (help)
  11. ^ "Virtusa supports 50 rural schools – Press Releases on". The Sunday Times. 2010-07-29. {{cite web}}: Cite has empty unknown parameter: |1= (help)
  12. ^ "Virtusa supports One Laptop per Child Program – Press Releases on". Csrwire.com.
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