Details $48 M Planned Investment in Asian Operations and Provides Business Update Exhibitor and Silver Sponsor of Premier Software Industry Conference
Westborough, MA – April 4, 2006 - Virtusa Corporation, a global provider of software development and IT services to Fortune 1000 enterprises and leading software product vendors, has announced details on its Fiscal 2007 Asia growth and operational initiatives, as well as highlights from the company’s major accomplishments during its just completed fiscal year. Virtusa has provided these comments from Software 2006 in Santa Clara, CA, where the company is a sponsor and exhibitor at one of the software industry’s premier events.
Planned $48 million investment in Asia for Fiscal 2007. U.S.-based Virtusa presently employs some 2500 employees in its state-of-the-art Global Technology Centers in Hyderabad and Chennai, India and in Colombo, Sri Lanka. Virtusa has secured over six acres of property in prime Hi Tec City, Hyderabad, where it plans to develop a campus for up to 5,000 employees.
- During Fiscal 07, Virtusa plans to invest $33 million in India and $15 million in Sri Lanka to accommodate the company’s operations and growth plans.
New customer wins and expanded existing client relationships driving continued growth. Virtusa has long-term relationships with such leading enterprise software companies as Pegasystems, Vignette and Pango, and during the past year the company has added new enterprise software clients including Iron Mountain. Virtusa has significant long-term outsourcing relationships with major Fortune 1000 clients and has steadily expanded its enterprise footprint in terms of number of customers and breadth of services in the financial services, communications, retail and high technology industries.
Named new Chief Marketing Officer and expanded presence in Silicon Valley. Industry veteran Marc Hebert joined Virtusa as Chief Marketing Officer in January 2006. With over 28 years of industry experience and extensive expertise as a public spokesman for IT offshoring, Marc is an excellent addition to the management team, and is responsible for corporate strategy, positioning, branding, public relations, analyst relations, lead generation programs and alliance relationships. Marc is based in Sunnyvale, CA where he heads Virtusa’s new West Coast Office.
- ppointed new VP of Sales and Client Services for Virtusa’s West Coast Operations. Tim Burke joins Virtusa this month as Vice President of Sales and Client Services for West Coast operations. With over 16 years of sales and management experience, Tim brings a stellar record from his five years at Wipro Technologies, where he helped increase Wipro’s West Coast business from $2 million to $30 million. Tim will focus on forging and expanding high tech client relationships for Virtusa.
Sahana, the Open Source Software disaster management system that Virtusa helped design and launch following the devastating 2004 Tsunami in Sri Lanka is up for a Software 2006 Humanitarian Award. Originally designed to help track missing people and coordinate aid efforts after the Tsunami, Sahana has sparked a global effort to help alleviate suffering by using IT. The system has since been used by the Pakistani government following the 2005 earthquake and was deployed within days of the Philippine mudslide in February 2006.
Unique Productization® service offering received Registered Trademark from United States Patent and Trademark (USPT) Office. Virtusa’s Productization® is a methodology that creates and consolidates technology assets into Organization Specific Platforms that can be leveraged across different silos of a client organization to build future applications or vertical solutions. First used commercially by Virtusa in June 2003, Virtusa’s Productization® applies software product lifecycle concepts to enterprise applications – treating them as appreciating assets capable of ongoing enhancement to meet new business requirements.
Named to the 2006 Global Services 100 List of the world’s most innovative global services providers. The Global 100 list recognizes excellence among global service providers that demonstrate leadership, innovation and outstanding performance in Information Technology Outsourcing and Business Process Outsourcing.
Kris Canekeratne, Virtusa Chairman and CEO, said, “Our recently completed fiscal 2006 was a year marked by continued growth and significant accomplishments. We have enjoyed a three-year compounded annual growth rate of over 45%. We have experienced this aggressive growth by winning new accounts, expanding existing accounts and increasing our service offerings. The additions to our management team and our planned investment in Asia represent our confidence in the future, as we continue to grow and expand our global presence.”
Mr. Canekeratne and other Virtusa executives will be available to provide further comment on these topics throughout the Software 2006 Conference, which runs through April 5th.
Virtusa’s Breakout Session, featuring an inside look at successful offshore software product development with Vignette Corporation, will be held on April 5th at 11:00 a.m. in the Great America Room 1-2-3 at the Santa Clara Convention Center.
Virtusa’s Booth is located in Hall C of the Convention Center, Booth 602.