Virtusa Corp announces details of fiscal 2007 Asia growth

Hyderabad, Apr 4 (UNI) Virtusa Corporation, a global provider of software development and IT services to Fortune 1000 enterprises and leading software product vendors, has announced details on its Fiscal 2007 Asia growth and operational initiatives, as well as highlights from the company's major accomplishments during its just completed fiscal year.

Virtusa has provided these comments from Software 2006 in Santa Clara, CA, where the company is a sponsor and exhibitor at one of the software industry's premier events.

Virtusa has planned USD 48 million investment in Asia for Fiscal 2007. Presently employing about 2500 employees in its state-of-the-art Global Technology centers in Hyderabad and Chennai and in Colombo, Sri Lanka, Virtusa has secured over six acres of property in Hitech City, Hyderabad, where it plans to develop a campus for up to 5,000 employees.

During fiscal 2007, Virtusa plans to invest USD 33 million in India and USD 15 million in Sri Lanka to accommodate the company's operations and growth plans.

Kris Canekeratne, Virtusa Chairman and CEO, said ''Our recently completed fiscal 2006 was a year marked by continued growth and significant accomplishments, a release said here today.

''We have enjoyed a three-year compounded annual growth rate of over 45 per cent. We have experienced this agressive growth by winning new accounts, expanding existing accounts and increasing our service offerings. The additions to our management team and our planned investment in Asia represent our confidence in the future, as we continue to grow and expand our global presence,'' he said.

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