Press Release

January 25, 2008

Virtusa Confirms Extension Of IPO Lock-Up Due To Planned Release Of Third Quarter Fiscal Year 2008 Financial Results

WESTBOROUGH, Mass.--(BUSINESS WIRE)--Jan. 25, 2008--Virtusa Corporation (NASDAQ: VRTU), a global information technology (IT) services company that provides IT consulting, technology implementation and application outsourcing services through an enhanced global delivery model, confirmed today that the lock-up agreements entered into in conjunction with its initial public offering will be extended until Tuesday, February 19, 2008, the first trading day after expiration of the lock-up agreements.

Under the terms of the lock-up agreement, the expiration date of the lock-up was automatically extended for an additional 18 days due to the timing of the Company's quarterly earnings release. The Company recently announced that it intends to release financial results for the third quarter of fiscal year 2008 on Thursday, January 31, 2008.

Upon expiration of the lock-up period, the shares subject to the lock-up restriction will become available for resale subject to applicable restrictions under the federal securities laws, including Rules 144 and 701 under the Securities Act of 1933. Virtusa completed its initial public offering in August 2007.


About Virtusa

Virtusa Corporation is a global provider of digital engineering and technology services and solutions for 2000 companies in the financial services, healthcare, communications, media, entertainment, travel, manufacturing, and technology industries worldwide. At Virtusa, digital engineering is at the heart of everything we do. We are 35,000 builders, makers, and doers that partner with customers to reimagine enterprises and creatively build solutions to the most pressing business challenges that move them to the forefront of their industries.

Virtusa’s unique “Engineering First” approach means never presenting an idea we can’t execute. With deep industry expertise and empowered agile teams made up of world-class talent, we think about execution early in the process, because the earlier you think about execution the earlier an idea can have an impact. Solving from the inside out enables businesses to respond swiftly to changing needs with improved quality, lower costs, and lasting results.

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
+1 (415) 430-8056

 Brian Ruby, 203-682-8268       
 Susan Hartzell, 203-682-8238       
 Staci Strauss Mortenson, 203-628-8273      
 Kori Doherty, 617-956-6730   SOURCE: Virtusa Corporation


Related content