Virtusa

Virtusa — the American IT service provider founded 1996. The company specializes in IT and business consulting, system integration and IT outsourcing. Large corporations and software makers are among clients of Virtusa.

History

2020: Baring Private Equity Asia purchased Virtusa for $2 billion

In September, 2020 the Baring Private Equity Asia fund announced acquisition of Virtusa for $2 billion that it in terms of one stock of the sold company makes $51.25. It is 27% more than a quotation rate by the time of closing of the exchange on the eve of the announcement of the transaction.

Baring Private Equity Asia in the time was included into the Baring Private Equity International group along with the Russian fund Baring Vostok Capital Partners. In management of Baring Private Equity Asia by September, 2020 there are assets for the amount of $20 billion. The company with offices in China and several other countries of Asia from the moment of the basis invested in more than 100 projects.

Baring Private Equity Asia purchased Virtusa for $2 billion

The chairman of the board of directors and the CEO of Virtusa Kris Canekeratne called sale to the company "unique opportunity" for a business output to new heights in the conditions of the accelerated implementation of digital technologies in the world.

Baring Private Equity Asia has the model record of service in assessment of the innovation and talented global commands and also in support and expansion of opportunities of the companies in which she invests. Having such strong partner as Baring Private Equity Asia, we will strengthen our positions on a first line of digital transformation for many years — he said.

It is going to close the transaction on sale of Virtusa of Baring Private Equity Asia company in the first half of 2021. Future owner of IT service provider does not speak about possible changes in business of Virtusa after official execution of the transaction yet.^[1]

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