No, Virtusa is not a products Base Company. It is an primarily digital engineering based IT firm offering IT consulting services and business consultancy for its clients around the world. While it creates specific platforms and custom solutions for clients, it isn’t an actual product company.
Here’s a brief outline of Virtusa:
| Information | Information |
| It was founded | 1996 |
| Founding Fathers | Kris Canekeratne, Tushara Canekeratne, John Gillis, Sandy Gillis |
| Headquarters | Southborough, Massachusetts, USA |
| CEO | Nitesh Banga |
| Industry | Information Technology Services |
| Services | Digital engineering, IT consulting, business consulting, application development |
| Revenue | US$1.8 Billion (2023) |
| Employees | 35,000+ (2023) |
| Parent Company | BPEA |
| Official Website | www.virtusa.com |
Corporate History
Virtusa was founded in 1997 it was founded in 1996 Sri Lanka. Kris Canekeratne is one of the co-founders, and has been the chief executive of the business for many years. The company was founded in the year 2000 and specialized in computer consulting and software services.
Virtusa was listed on the stock market on July 7, 2007 as well as has since expanded its operations across India, the United States, India, and Sri Lanka. The company has bought other companies, including Insource, ConVista Consulting, Polaris Consulting and eTouch Systems. These acquisitions have been used to expand the capabilities of Virtusa in the fields of financial services, banking along with digital transformation.
Virtusa was sold again privately at the end of 2021 by Baring Private Equity Asia at the estimated price of 2 billion dollars.
Present Status
Virtusa is a global IT services provider. It offers legacy systems as well as application development, cloud-based engineering and digital development. The industries it serves include healthcare, banking, telecom and insurance industries.
The three main delivery centers that Virtusa is located in are Hyderabad, Chennai and Colombo. The company employs more than 35,000 employees across the world. The company is expected to earn earnings of 1.8 billion dollars by the 2023 year.
While Virtusa has developed a bespoke platform that is tailored to the needs of its clients, its model of business is primarily based on service contracts and consultancy. It is an essentially a service-based business in contrast to an enterprise based on products.
Future Outlook
Virtusa concentrates on expanding its digital engineering services and cloud. It continues to acquire technology firms to broaden its global reach. It will be paying more attention to AI automation, automation, and the creation of new applications.
Virtusa has an impressive global client base current client base and stable growth. It will likely to be one of the top service-based IT firms in the near future.
