View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
July 6, 2011

Virtusa buys ALaS Consulting for $27.8m

Adds capital markets and investment banking expertise to its services

By CBR Staff Writer

Business consulting and outsourcing services provider Virtusa has acquired all of the assets of the financial-services consulting firm ALaS Consulting for $27.8m in cash.

The deal will expand Virtusa’s presence within the banking and financial services industries (BFS) by adding capital markets and investment banking expertise, consulting and programme management skills to its services.

AlaS will now become the capital markets services division of Virtusa and the move is intended to deliver the combined client base an integrated offering, including deep domain knowledge, consulting-led solutions, technology implementation and efficient global delivery execution, Virtusa said.

Virtusa said AlaS adds about 150 practitioners, including former senior Wall Street professionals with significant industry experience.

As part of the acquisition, substantially all AlaS employees, including the management team, accepted employment with Virtusa.

Virtusa has agreed to issue up to $4m in shares of restricted stock to the new Virtusa employees, and the shares will vest annually over a four year period.

Content from our partners
Unlocking growth through hybrid cloud: 5 key takeaways
How businesses can safeguard themselves on the cyber frontline
How hackers’ tactics are evolving in an increasingly complex landscape

Virtusa expects ALaS to contribute revenue of $24m to $26m and to increase earnings per diluted share by 1 cent to 5 cents for the fiscal year ending 31 March 2012.

The company will book about $375,000 of the estimated $450,000 in transaction expenses in the fiscal first quarter ended June 30 this year.

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.