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Virtusa

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Virtusa Corporation c
Company typePublic.
Nasdaq: VRTU
IndustryInformation Technology Services
Founded1997- Massachusetts, US
FounderKris Canekeratne
Tushara Canekeratne
John Gillis
Sandy Gillis
Headquarters
Westborough, Massachusetts
,
US
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, US. 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.

Acquisitions

  • In 2009, acquired InSource,[3] a technology consulting company which specialized in Insurance and Healthcare industries. InSource[ is based in Hartford, Connecticut, US.
  • 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.
  • In November 2015, Virtusa acquired a 53% stake in Polaris Consulting & Services Limited, India,[7] an Indian provider of IT solutions primarily to banking and financial services. Virtusa paid $270 million for the firm, which will see more than 7,500 employees join its global undertakings.
Virtusa at Orion City Sri Lanka

Operations

On 31 December 2014, Virtusa had 112 clients across the world, with 9023 employees.[8]

Locations: Virtusa has a global presence with offices throughout US, Europe and Asia and advanced development centers in the United States, Europe and Asia.[9]

Competition

Some of its key competitors in the Offshore IT Services industry include Infosys, Wipro, Cognizant, Mphasis, 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,[10] 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.[11]
  • 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.[12]
  • Earlier, in 2010, the company leveraged its technology/QA expertise to support the One laptop per child (OLPC) program[13]
  • 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. ^ http://www.consultancy.uk/news/2886/it-giant-virtusa-buys-polaris-consulting-and-services. {{cite web}}: Missing or empty |title= (help)
  8. ^ "Investor Sheet". Integrated Corporate Relations (ICR). Retrieved 16 Apr 2015.
  9. ^ "Worldwide Locations". Virtusa.com. Retrieved 16 Apr 2015.
  10. ^ http://www.sundaytimes.lk/120603/BusinessTimes/bt16.html. {{cite web}}: Missing or empty |title= (help)
  11. ^ http://finance.yahoo.com/news/virtusa-wins-2012-witsa-global-140000339.html. {{cite web}}: Missing or empty |title= (help)
  12. ^ "Virtusa supports 50 rural schools – Press Releases on". The Sunday Times. 2010-07-29. {{cite web}}: Cite has empty unknown parameter: |1= (help)
  13. ^ "Virtusa supports One Laptop per Child Program – Press Releases on". Csrwire.com.
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