Daily Mirror (Sri Lanka)

Virtusa expands operations in Europe with TradeTech acquisitio­n


Virtusa Corporatio­n (NASDAQ GS: VRTU), a global IT services company that combines innovation, technology leadership and industry solutions to transform the customer experience, today announced that it has acquired all the outstandin­g shares of TradeTech Consulting Scandinavi­a AB and its subsidiari­es (“TradeTech”), headquarte­red in Stockholm, Sweden. TradeTech is a leading consulting and IT services provider specializi­ng in treasury and asset management for major financial institutio­ns and multi-national corporatio­ns, primarily in the Nordic countries.

The acquisitio­n expands Virtusa’s leading position within the banking, financial services and insurance industries by increasing its asset management and treasury services domain and technology expertise. With 60 team members, TradeTech’s core strengths include technology consulting, regulatory & compliance, implementa­tion of global asset management and treasury platforms, as well as managed services. With the addition of TradeTech, Virtusa plans to leverage these complement­ary capabiliti­es across its global client base, enabling Virtusa to offer a broader set of services to existing and new clients.

TradeTech expects to immediatel­y extend Virtusa’s presence within Europe, expanding Virtusa’s global footprint into the Nordics, a large and growing IT services market primed for increasing its use of outsourcin­g. TradeTech clients will continue to benefit from local operationa­l support and now will have access to Virtusa’s global delivery model and broader services capabiliti­es.

 ??  ?? Virtusa CEO, Kris Canekeratn­e
Virtusa CEO, Kris Canekeratn­e

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