Virtusa
Global information technology services and consulting company
Last updated August 22, 2026
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Overview
Virtusa is an information technology services and consulting company that works with enterprises on digital strategy, software engineering, application modernization, systems integration, cloud and infrastructure services, and business-process transformation. The company was founded in Sri Lanka in 1996 by Kris Canekeratne and later established its corporate headquarters in Massachusetts. Its business developed around distributed delivery, combining client-facing consulting and engineering with substantial delivery operations in India and Sri Lanka. Virtusa has served organizations in financial services, insurance, communications, media, technology, healthcare, and other industries. Its work commonly involves modernizing legacy systems, building digital customer and employee experiences, integrating platforms, improving data and analytics capabilities, and supporting technology operations. Rather than being primarily a consumer-facing product brand, Virtusa is an enterprise services brand whose offerings are delivered through consulting engagements, managed services, implementation programs, and custom software development. The company expanded through a combination of organic growth and acquisitions. Acquired businesses added capabilities in technology consulting, financial-services operations, infrastructure services, treasury and asset-management technology, application engineering, and creative services. Important transactions included the acquisition of Insource in 2009, ConVista Consulting in 2010, ALaS Consulting in 2011, OSB Consulting in 2013, TradeTech Consulting Scandinavia in 2014, Apparatus and a majority stake in Polaris Consulting & Services in 2015, and eTouch Systems in 2018. Later additions included Factor Creative in 2023, BRIGHT and ITMAGINATION in 2024, and Mav3rick and Sincera in 2025. Virtusa became a publicly traded company in 2007. Its public-company period ended after Baring Private Equity Asia acquired the business in February 2021 in a transaction reported at approximately US$2 billion. The transaction also marked a leadership transition: co-founder Kris Canekeratne left his long-standing chief executive role in 2021 and subsequently departed the chairmanship, while Sander van't Noordende became chairman. Virtusa continues to operate as an enterprise technology services company under private ownership, with an international delivery and client-service footprint.
History
Virtusa was founded in 1996 in Sri Lanka by Kris Canekeratne. From its beginning, the company was structured as an international technology-services business rather than as a software product company. Its model connected consulting and client-facing work with delivery centers in South Asia, allowing it to provide application development, systems integration, outsourcing, and related engineering services to enterprise customers. The company’s delivery footprint became particularly associated with India and Sri Lanka. Hyderabad, Chennai, and Colombo grew into important delivery locations, while the corporate organization developed in the United States. Virtusa’s clients have included businesses in financial services, insurance, communications, media, and other sectors that require complex technology modernization and operational support. Its service portfolio has included business and IT consulting, custom software development, application maintenance and modernization, infrastructure services, and digital transformation programs. Kris Canekeratne played a central role in the company’s early development. He served as chief executive officer from 1996 to 1997 and again from 2000 until 2021, and he was chairman for much of the company’s history. Virtusa became publicly traded in 2007, giving it access to public-market capital and establishing a more formal platform for international expansion. Acquisitions were a major part of Virtusa’s growth strategy. In 2009, it bought Insource, a technology consulting company. The following year it acquired ConVista Consulting, whose work included collections, disbursements, claims, and billing services. In 2011, ALaS Consulting added financial-services consulting expertise. Virtusa continued this expansion with the purchase of OSB Consulting in 2013 and TradeTech Consulting Scandinavia in 2014. TradeTech strengthened capabilities in treasury and asset-management technology in the Nordic countries. In 2015, Virtusa acquired Apparatus, an Indianapolis-based IT infrastructure services provider. Later that year it acquired a 53 percent stake in Polaris Consulting & Services, an Indian IT services company focused principally on banking and financial services. The Polaris transaction broadened Virtusa’s scale and sector depth in one of its most important markets. In March 2018, Virtusa acquired eTouch Systems, including its corporate and Indian entities, adding further application and technology services capacity. A major ownership transition occurred in February 2021, when Baring Private Equity Asia acquired Virtusa in a transaction reported at approximately US$2 billion. The acquisition took the company private and ended its period as a publicly traded business. Leadership also changed during that year. Canekeratne stepped down as chief executive in May 2021, after a long tenure, and later left the chairmanship. Sander van't Noordende became chairman. Under private ownership, Virtusa continued to broaden its capabilities through targeted acquisitions. In September 2023 it acquired Factor Creative, a creative agency based in Walnut Creek, California. In February 2024 it acquired BRIGHT, an IT services firm from Bulgaria, and in April 2024 it acquired ITMAGINATION, a Warsaw-based technology company. In 2025, Virtusa added Mav3rick, an Australian Salesforce and MuleSoft advisory and implementation partner, followed by Sincera, a software development company. These transactions reflect the company’s continuing effort to combine consulting, engineering, cloud and integration expertise with customer-experience and platform-specific capabilities. Virtusa remains an active enterprise technology services brand with a multinational operating model, a substantial South Asian delivery presence, and a client base spanning multiple technology-intensive industries.
- 2025
Acquisitions of Mav3rick and Sincera
[1]Virtusa acquired Mav3rick, an Australian Salesforce and MuleSoft partner, and Sincera, a software development company.
- 2024
Acquisitions of BRIGHT and ITMAGINATION
[1]Virtusa expanded its European technology-services presence through acquisitions of BRIGHT in Bulgaria and ITMAGINATION in Poland.
- 2023
Acquisition of Factor Creative
[1]Virtusa acquired the Walnut Creek-based creative agency Factor Creative.
- 2021
Baring Private Equity Asia takes Virtusa private
[1]Baring Private Equity Asia acquired Virtusa in a transaction reported at approximately US$2 billion.
- 2018
Acquisition of eTouch Systems
[1]Virtusa acquired eTouch Systems Corp. and eTouch Systems Pvt. Ltd.
- 2015
Apparatus and Polaris expansion
[1]Virtusa acquired Apparatus and purchased a 53 percent stake in Polaris Consulting & Services, strengthening infrastructure and banking technology capabilities.
- 2014
Acquisition of TradeTech Consulting Scandinavia
[1]The Stockholm-based company added treasury and asset-management technology expertise in the Nordic region.
- 2013
Acquisition of OSB Consulting
[1]Virtusa acquired the New Jersey-based consulting firm OSB Consulting.
- 2011
Acquisition of ALaS Consulting
[1]The acquisition added financial-services consulting capabilities.
- 2010
Acquisition of ConVista Consulting
[1]Virtusa acquired a US provider of collections, disbursement, claims, and billing services.
Products and positioning
Enterprise-focused technology services provider combining consulting, software engineering, systems integration, and distributed delivery, with particular experience in financial services and other highly regulated or technology-intensive industries.
Consulting and transformation
Digital transformation services
Virtusa helps enterprise clients plan and execute technology-led transformation programs. Work can include digital strategy, operating-model change, customer and employee experience, platform modernization, cloud adoption, and integration of new capabilities with existing enterprise systems.
Software engineering
Application engineering and modernization
This offering covers custom application development, enhancement, maintenance, and modernization. It is aimed at organizations that need to replace or rework legacy applications, develop new digital channels, and improve the scalability, reliability, and maintainability of enterprise software.
Integration services
Systems integration
Virtusa provides integration services connecting applications, data sources, cloud environments, and business platforms. The work supports complex enterprise architectures where organizations need consistent information flows and coordinated processes across legacy and newer systems.
Infrastructure and managed services
Cloud and infrastructure services
The company provides infrastructure-related consulting and services, including capabilities added through the acquisition of Apparatus. These services support enterprise infrastructure, cloud environments, application operations, and technology management.
Industry solutions
Financial-services technology
Financial services is one of Virtusa’s established verticals. Its work has included banking technology, treasury and asset-management systems, claims and billing processes, collections and disbursements, and other technology programs for banks, insurers, and related institutions.
Experience design · 2023
Creative and customer-experience services
The acquisition of Factor Creative expanded Virtusa’s ability to combine technology delivery with creative, design, and customer-experience work. These capabilities support digital experiences and brand-related transformation programs.
Brand decisions
2025
Virtusa adds Salesforce, MuleSoft, and software-development capabilitiesM&ABackground
Virtusa continued to add specialized technology and implementation capabilities through acquisitions.
Action taken
The company acquired Mav3rick in Australia and Sincera, a software development company.
Aftermath
The acquisitions strengthened platform advisory, implementation, and software-engineering capabilities.
2024
Virtusa expands European delivery and consulting capabilitiesM&ABackground
Virtusa continued its acquisition-led expansion in Europe.
Action taken
The company acquired BRIGHT in Bulgaria and ITMAGINATION in Poland.
Aftermath
The transactions expanded Virtusa's European technology-services and engineering footprint.
2023
Virtusa acquires Factor CreativeM&ABackground
Virtusa sought to broaden its enterprise transformation capabilities with creative and experience services.
Action taken
The company acquired Factor Creative, a creative agency headquartered in Walnut Creek, California.
Aftermath
The acquisition added creative and customer-experience capabilities to Virtusa's technology-services portfolio.
2021
Virtusa accepts acquisition by Baring Private Equity AsiaM&ABackground
After operating as a public company since 2007, Virtusa agreed to be acquired by Baring Private Equity Asia.
Action taken
Baring Private Equity Asia acquired the company in February 2021 in a transaction reported at approximately US$2 billion, taking Virtusa private.
Aftermath
The transaction ended Virtusa's public-company status and was followed by a leadership transition in which Kris Canekeratne left the chief executive role and Sander van't Noordende became chairman.
Reported acquisition value. US$2 billion (February 2021)
Recent events
Virtusa receives Google Cloud Cloud Migration Partner of the Year award[3]
Reported:
Virtusa announced that it received the 2020 Google Cloud Specialization Partner of the Year award for Cloud Migration, recognizing its expertise and success in migrating enterprise customers to Google Cloud.
Virtusa appoints Denise Warren to its board and as audit committee chair[4]
Reported:
Virtusa announced that Denise Warren joined its board and was appointed Chairperson of its Audit Committee.
Virtusa appoints Santosh Thomas as CEO[5]
Reported:
Virtusa announced that its board appointed Santosh Thomas as the company's new Chief Executive Officer, succeeding founder Kris Canekeratne.
Virtusa announces partnership with Sedicii[6]
Reported:
Virtusa announced a partnership with Sedicii to provide banks and insurers with digital onboarding and identification capabilities, including a certified touchless onboarding capability.
Virtusa and People's United Bank partner on customer decisioning hub[7]
Reported:
Virtusa announced that People's United Bank is using Virtusa's vEngage solution to power the bank's new customer decisioning hub.
- Unconfirmed
Virtusa sponsors IEEE Sri Lanka virtual robotics workshop[8]
Reported:
Virtusa sponsored a virtual robotics workshop organized by the IEEE Robotics and Automation Society Sri Lanka Section Chapter in partnership with IEEE Sri Lanka Section.
Virtusa sponsors IEEE Sri Lanka robotics workshop[9]
Reported:
Virtusa sponsored the first virtual robotics workshop in a series organized by the IEEE Robotics and Automation Society Sri Lanka Section Chapter in partnership with IEEE Sri Lanka Section.
- Unconfirmed
Baring Private Equity Asia agrees to acquire Virtusa[10]
Virtusa signed a definitive merger agreement to be acquired by Baring Private Equity Asia in an all-cash deal valued at about $2.0 billion. The deal was described as slated to close in the first half of 2021.
Virtusa achieves Blue Prism Silver-level certification[11]
Reported:
Virtusa announced that it had achieved Silver-level Delivery Provider Certification from Blue Prism after passing its certification process.
Sources12 sources
- 1Virtusaen.wikipedia.org
- 2Virtusa official websitevirtusa.com
- 3Virtusa获得Google Cloud年度云迁移合作伙伴奖finanznachrichten.de
- 4Virtusa任命Denise Warren加入董事会并担任审计委员会主席finanznachrichten.de
- 5Virtusa任命Santosh Thomas为首席执行官dailymirror.lk
- 6Virtusa宣布与Sedicii合作finanznachrichten.de
- 7Virtusa与People's United Bank合作推出客户决策中心finanznachrichten.de
- 8Virtusa赞助 IEEE Sri Lanka 虚拟机器人研讨会island.lk
- 9Virtusa赞助IEEE斯里兰卡机器人研讨会ft.lk
- 10Baring Private Equity Asia 同意收购 Virtusacrn.com
- 11Virtusa achieves Blue Prism Silver-level certificationfinanznachrichten.de
- 12Sri Lankan-founded Virtusa acquired by Hong Kong-based investorsundaytimes.lk
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