Virtusa Buys TradeTech Consulting

(RTTNews) - Virtusa Corp. (VRTU) said Monday that it has acquired all the outstanding shares of TradeTech Consulting Scandinavia AB and its subsidiaries, headquartered in Stockholm, Sweden.

TradeTech is a consulting and IT services provider specializing in treasury and asset management for major financial institutions and multi-national corporations, mainly in the Nordic countries.

The acquisition expands Virtusa's leading position within the banking, financial services and insurance industries by increasing its asset management and treasury services domain and technology expertise. With 60 team members, TradeTech's core strengths include technology consulting, regulatory & compliance, implementation of global asset management and treasury platforms, as well as managed services.

TradeTech expects to immediately extend Virtusa's presence within Europe, expanding Virtusa's global footprint into the Nordics.