Diemazz

Virtusa Corporation

Type	Public NASDAQ: VRTU
Founded	1995 - Colombo, Sri Lanka
Founder(s)	Kris Canekeratne Tushara Canekeratne
Headquarters	Westborough, Massachusetts,, USA
Key people	Kris Canekeratne (Chairman and CEO)
Industry	Information Technology Services
Market cap	$ â–²182.93 million (As on 19 August 2008)[1]
Revenue	$ â–²165.2 million (FY08)[2]
Operating income	$ â–²19.4 million (FY08)[3]
Net income	$ â–¼17.8 million (FY08)[4]
Total assets	$ â–²180.8 million (FY08)[5]
Total equity	$ â–²155.8 million (FY08)[6]
Employees	4,265 (As on 31 March 2008) [7]
Website	www.virtusa.com

Virtusa Corporation (NASDAQ: VRTU) is an information technology services company headquartered at Massachusetts, USA. It serves the technology needs of global enterprises and software vendors across communications & technology; banking, financial services & insurance; and media & information industries. Virtusa is ISO 27001 and SEI-CMMI Level 4 certified IT services company.

Founded in 1996, Virtusa has offices and technology centers in U.S., U.K. and Asia.

Corporate History

1995 – 1998 Software Solutions

Virtusa was founded as ‘Software Solutions’ in 1995 by Kris Canekeratne. In this period Microsoft released Windows 3.51 and there was a shortage of Windows NT engineers and Software Solutions was established to fill this need. The company started in one of the back rooms of Kris Canekeratne’s residence, No. 9 Horton Place, Colombo 7, with just three engineers and a board of five directors. By 1996 the company had grown to 18 employees.

1998 – 2000 Technology Providers International

In 1997, Software Solutions was renamed as ‘Technology Providers International’ and were a leading supplier of outsourced object-oriented software design and development services. The company gained BOI status (Advanced Technology) and the international success of the company was acknowledged locally. And they opened head office in Main Street, Westborough, Massachusetts in 1998 marked a significant milestone and the company was known in the United States as Technology Providers Inc.

2000 – 2002 eRUNWAY™

With the eCommerce era in the year 2000, the company changed its vision and mission and adapted to the changing needs of the Internet era. Technology Providers International was renamed ‘eRUNWAY Inc.’ and became a leading eBusiness, Internet software development and systems integration services company. the company was divided into three Strategic Business Units namely eHRVC (Human Resource Venture Capital), eNterprise and eBusiness. During this time eRUNWAY’s third area office was inaugurated in Hyderabad, India and was named the India Advanced Technology Center.

2002 onwards Virtusa

eRUNWAY was re-launched as ‘Virtusa Corporation’ on April 22, 2002. The name Virtusa is derived from the Latin "virtus" meaning excellence.

Timeline

• 2003: Awarded the Pegasystems Partner Excellence Award at Pegasystems annual customer and partner conference, PegaVISION 2003^[8]
• 2003: Recognized by Bank One as one of their Top IT Suppliers ^[9]
• 2004: Spearheaded the design and development of an open source system for disaster relief, Sahana in the wake of the 2004 Asian Tsunami. Sahana received the biggest award so far, the Free Software Foundation's award for the social benefit on the 24th of March 2007.^[10] The awards ceremony at the annual FSF meeting, held at MIT in U.S.A, where they received the award from the founder of the FSF, Richard Stallman. The award, which is only one of two awards given by the FSF each year, was inspired by Sahana a year ago. The recipient of last year's award was Wikipedia, and Sahana follows in its footsteps this year.
• 2005: Bagged the Hyderabad Software Exporters' Association (Hysea) award for `Best established offshore development centre'^[11]
• 2006: Named to Deloitte’s New England Technology Fast 50^[12]
• 2006: Named to Silicon India Top 100, which is an annual listing of the top 100 technology companies founded and managed by Indians in the U.S.^[13]
• 2007: Announces pricing of its upcoming Initial Public Offering. ^[14]
• 2007: On August 8,2007 the IPO for Virtusa began with an initial price per share of $14.00 ^[15]
• 2007: Virtusa was ranked 80 in FinTech 100, an annual international listing of the top technology vendors that derive more than one third of their revenue from the financial services industry. ^[16]
• 2008: Bagged Gold award at Sri Lanka's HRM awards (2007) ^[17]
• 2008: Virtusa ranked # 252 on the 2008 VARBusiness 500 list. The VARBusiness 500 awards acknowledge the top-placed firms in North America that help corporations and institutions best apply IT strategies and systems. ^[18]
• 2008: Finalists 2008 U.S. Secretary of State’s Award for Corporate Excellence (ACE) ^[19]

Clients

Virtusa partners with some of the world’s largest financial services, communications services and media & information companies, as well as leading software companies. Most of clients are Global 1,000 members from following industries,

• Banking & Financial Services
• Insurance
• Communications and Technology
• Media and Information

Management Team

Executive Officers

• Kris Canekeratne - Chairman and Chief Executive Officer
• Thomas R. Holler - Executive Vice President of Finance and Chief Financial Officer
• Roger Keith Modder - Executive Vice President and Managing Director Asian Operations
• T. N. Hari - Senior Vice President and Global Head of Human Resources

Senior Leadership Team

• Jim Francis - Senior Vice President and Head of Banking, Financial Services & Insurance (BFSI) Business Unit
• John Gillis - Executive Vice President of Client Services and Business Development
• Marc Hebert - Chief Marketing Officer
• Santanu Paul - Senior Vice President and Head of Global Delivery Operations
• Raj Rajgopal - General Manager, Head of Communications, Content, and Technology (CCT) Business Unit

Board of Directors

• Kris Canekeratne - Chairman and Chief Executive Officer
• Izhar Armony - Partner, Charles River Ventures
• Robert Davoli - Managing Director, Sigma Partners
• Andy Goldfarb - Executive Managing Director, Globespan Capital Partners
• Ronald T. Maheu - Director, Charles River Associates
• Rowland T. Moriarty - Chairman, Charles River Associates
• Martin Trust - Chairman, Brandot International

Advisory Board

• Tushara Canekeratne - Co-Founder
• R. Stephen Cheheyl
• Kevin Laracey
• Allyn C. Woodward, Jr.

Offices

• Corporate Headquarters - located in Westborough, MA, USA
• Other USA - Silicon Valley Office, Sunnyvale, CA; New York Office, Park Avenue, New York, NY
• United Kingdom - Reading Office, Reading, Berkshire; London Office, Old Bailey,London
• India - Chennai Office -1, Thiru-Vi-Ka Industrial Estate; Chennai Office -2,Phase-C, DLF IT PARK ;Hyderabad Office-1,My Home Tycoon Building, Begumpet, Kundanbagh; Hyderabad Office - 2, White House,Begumpet, Kundanbagh; Hyderabad Office - 3, Cyber Gateway, Hitec City, Madhapur
• Sri Lanka - Trans Asia Office, Colombo 02; Vogue Building, Colombo 03; Cyntex Building; Colombo 09

References

External links

• Virtusa
• Google Finance Profile

Site Map: RSS 2.0

Recent Searches: Mohammed Bouyeri
Virtusa
Aseri Station
Back vowel
Image:Italiancharmsdisplay jpg
Fufeng County
Image:Espn1033 gif
Al Roker
History of Trade Unionism
Huseyn Javid

Related Pages: