Company recognized as one of the leading performers in the Software and ISV R&D Service Provider Industry
WESTBOROUGH, Mass. – (June20, 2011) – Virtusa Corporation (NASDAQ: VRTU), a global IT services company that offers a broad spectrum of business consulting and outsourcing services, announced today that it has been honored by Zinnov Management Consulting as one of the leading global R&D service providers for 2011, in the category of Software and ISV. The study, “Global R&D Service Providers (GSPR) Rating 2011”, incorporates many geographies including the U.S, India, China, Russia and Eastern Europe. The annual assessment is undertaken by Zinnov to help business leaders drive global engineering initiatives and to assist them in identifying the right partners across geographies.
Virtusa was honored in the prestigious “Execution Zone” of ‘Zinnov Zones’, which identifies companies based on their high level of R&D practice maturity. Recognition in this zone indicates that Virtusa is capable of delivering complete product development as a true engineering partner. Companies honored in the ‘Execution Zone’ have a presence in almost all sub verticals and are distinguished by their innovative practices. Furthermore, this zone recognizes companies such as Virtusa for having the capabilities to work in all business models, including Risk Reward and Revenue Share.
“Business and technology leaders are increasingly facing new demands and challenges relating to the rapidly evolving IT landscape. To maintain a leadership position, corporations often turn to partners like Virtusa with proven technology execution expertise to accelerate their business outcomes,” said Kris Canekeratne, chairman and CEO at Virtusa. “Virtusa is honored to be recognized in this year’s Global R&D Service Provider Rating as one of the leading global service providers uniquely positioned and equipped to help clients overcome industry challenges and achieve their business goals.”
“Virtusa’s listing reinforces the company’s strong focus on engineering excellence, and at the same time, that of being a reliable partner which can deliver high quality, innovative products for its Software/ISV clients. Virtusa and the other companies recognized by this year’s Global R&D Service Providers Rating are those exceptional companies that have been able to thrive in a challenging economic environment to help their clients achieve growth,” said Pari Natarajan, Co-Founder & CEO, Zinnov Management Consulting. “Our study indicates that in the wake of increased competition within the R&D service provider market, these companies are demonstrating innovation as they embrace emerging macro trends such as convergence and mobility, enterprise adoption and cloud computing -- allowing them to differentiate themselves and better serve their customers.”
About Zinnov Management Consulting:
Zinnov is a leading management consulting company founded in 2002, providing services in the area of Offshore Advisory, Human Capital Optimization and Market Expansion and to Fortune 1000 companies. To create this year’s Global R&D Service Providers Rating, the company assessed the 44 participating companies on parameters such as Human capital, capabilities, financials, ecosystem linkages, infrastructure & business sustainability. Participants were then ranked in various verticals including aerospace and defense, automotive, computer peripherals and storage, consumer electronics, healthcare, industrial automation, semiconductor, software/ISV, telecommunication, transport, communication stack, and cloud computing.
To learn more about this year’s Global R&D Service Provider Rating, please visit http://zinnov.com/press.php?pr_id=499.