Corporate History
Virtusa, founded as ‘Software Solutions’ in 1996 was primarily a software development company. The company started in one of the back rooms of Kris Canekeratne’s residence in Colombo, Sri Lanka. In 1997, Software Solutions was renamed as ‘Technology Providers International’ and was involved in outsourced object-oriented software design and development service. In 1998 the company opened their head office at Westborough, Massachusetts and the company was incorporated as Technology Providers Inc. in the United States. In 2000, during e-commerce trend, Technology Providers International was renamed ‘eRUNWAY Inc.’ and offered eBusiness, Internet software development and systems integration services. eRUNWAY was re-launched as ‘Virtusa Corporation’ on April 22, 2002. The name Virtusa is derived from the Latin "virtus" meaning excellence. Virtusa went public on August 3, 2007 by listing on the NASDAQ exchange.
On November 5, 2009, Virtusa announced the acquisition of InSource, a technology consulting company with specialization in the Insurance and Healthcare industries. InSource is based in Hartford, Connecticut, USA and has approximately 50 employees. In February 2010, the company acquired ConVista Consulting, LLC, a U.S.-based, privately held, market leader in finance transformation, specifically focusing on high volume collection, disbursement, claims and billing systems in BFSI.
In 2011, Virtusa was named to Forbes list of 100 Best Small Companies in America.
Read more about this topic: Virtusa
Famous quotes containing the words corporate and/or history:
“The corporate grip on opinion in the United States is one of the wonders of the Western World. No First World country has ever managed to eliminate so entirely from its media all objectivity—much less dissent.”
—Gore Vidal (b. 1925)
“If you look at the 150 years of modern China’s history since the Opium Wars, then you can’t avoid the conclusion that the last 15 years are the best 15 years in China’s modern history.”
—J. Stapleton Roy (b. 1935)