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Press Release

October 23, 2007

Virtusa Joins Deloitte's 2007 Technology Fast 500

Virtusa’s 361% Percent Revenue Growth Fuels Ranking as
388th Fastest Growing Company in North America

Westborough, MA – October 23, 2007 – Virtusa Corporation (NASDAQ: VRTU), a global IT services company that provides IT consulting, technology implementation and application outsourcing services, today announced that it ranked Number 388 on Deloitte’s 2007 Technology Fast 500, a ranking of the 500 fastest growing technology, media, telecommunications and life sciences companies in North America. Rankings are based on percentage of fiscal year revenue growth over five years, from 2002–2006. Virtusa grew 361% during this period.

Virtusa’s Chairman and CEO, Kris Canekeratne, credits Virtusa’s global team members, the company’s unique software platforming vision and Virtusa’s deep client relationships with the company’s 361% revenue growth over the past five years. He said, "We are delighted to follow up our recent Deloitte New England Fast 50 award with this latest Deloitte Technology Fast 500 award.”

"Deloitte’s Technology Fast 500 recognizes technology companies who have achieved extraordinary growth in North America’s most innovative and competitive sectors,” said Phil Asmundson, vice chairman, U.S. Technology, Media and Telecommunications, Deloitte & Touche USA LLP. "We congratulate Virtusa on this significant accomplishment."

In addition to ranking on Deloitte’s Technology Fast 500, Virtusa ranked 43 on the New England Technology Fast 50, which is a ranking of the 50 fastest growing technology firms in New England.

About Deloitte

Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss Verein, its member firms, and their respective subsidiaries and affiliates. Deloitte Touche Tohmatsu is an organization of member firms around the world devoted to excellence in providing professional services and advice, focused on client service through a global strategy executed locally in nearly 140 countries. With access to the deep intellectual capital of approximately 150,000 people worldwide, Deloitte delivers services in four professional areas—audit, tax, consulting, and financial advisory services—and serves more than 80 percent of the world’s largest companies, as well as large national enterprises, public institutions, locally important clients, and successful, fast-growing global companies. Services are not provided by the Deloitte Touche Tohmatsu Verein, and, for regulatory and other reasons, certain member firms do not provide services in all four professional areas.

As a Swiss Verein (association), neither Deloitte Touche Tohmatsu nor any of its member firms has any liability for each other’s acts or omissions. Each of the member firms is a separate and independent legal entity operating under the names “Deloitte,” “Deloitte & Touche,” “Deloitte Touche Tohmatsu,” or other related names.

 

About Virtusa

Virtusa Corporation is a global provider of digital business strategy, digital engineering, and information technology (IT) services and solutions that help clients change, disrupt, and unlock new value through innovative engineering. Virtusa serves Global 2000 companies in Banking, Financial Services, Insurance, Healthcare, Communications, Media, Entertainment, Travel, Manufacturing, and Technology industries.

Virtusa helps clients grow their business with innovative products and services that create operational efficiency using digital labor, future-proof operational and IT platforms, and rationalization and modernization of IT applications infrastructure. This is achieved through a unique approach blending deep contextual expertise, empowered agile teams, and measurably better engineering to create holistic solutions that drive the business forward at unparalleled velocity enabled by a culture of cooperative disruption.

Virtusa is a registered trademark of Virtusa Corporation.  All other company and brand names may be trademarks or service marks of their respective holders.

 

Media Contact:

Alex Nickols
Edelman
+1 (415) 430-8056
Alex.Nickols@edelman.com

Media Contact:
Brian Ruby/Susan Hartzell
ICR
brian.ruby@icrinc.com, 203-682-8268
susan.hartzell@icrinc.com, 203-682-8238

 

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