Client Expansion and New Client Wins Fuel Aggressive Growth Plans
October 3, 2005: Virtusa Corporation, a global IT services and consulting company, today announced it will expand its global delivery teams by 20 percent in the coming quarter to support the company´s aggressive growth.
Virtusa´s revenues have increased steadily resulting in a three-year compounded annual growth in excess of 50%. This above industry growth rate continues to be driven by business expansion from existing clients and the rapid addition of new clients. The company secured 11 new clients in the second quarter of 2005 alone, including a Global 500 telecommunications company, a Global 500 financial services firm, and a Fortune 100 high-tech manufacturing firm.
Danford Smith, President and COO, said: "Increasingly, Virtusa is being chosen as a strategic partner by the world's largest and most selective companies. This speaks to the value we bring to the table and the trust we are continuing to build among these industry-leading organizations. As we continue to build that trust and grow our strategic client base, we will bring on the talent we need to support current and future client needs."
Santanu Paul, General Manager, Virtusa (India) Pvt Ltd, said: "The quality, energy level and commitment of our associates have allowed us to meet rapidly expanding demand for our services - we clearly have our current team to thank for our success. We will aggressively expand this team with the best talent available to support our growth and to maintain the highest quality of service to our clients. Our goals are simple: to provide an outstanding work environment for our associates and to deliver bottom-line results for our clients, so that both groups realize real ROI in an ongoing way."
Smith added: "CIOs want more than the incremental cost savings offered by traditional offshore outsourcing. They want faster, better, stronger IT services - all built on a cost-effective foundation. Virtusa´s focus on improving the productivity, efficiency and flexibility of IT assets is highly valued by our clients. The fact that Virtusa is increasingly becoming a partner of choice in the industry is testimony to the value we have been delivering to our clients."