Press Release September 10, 2020

Virtusa to be Acquired by Baring Private Equity Asia for $51.35 Per Share in All-Cash Transaction Valued at $2.0 Billion

The Technology team advised Virtusa Corporation (NASDAQ GS: VRTU) on its definitive merger agreement with Baring Private Equity Asia (BPEA) under which funds affiliated with BPEA will acquire all outstanding shares of common stock of Virtusa for $51.35 per share in an all-cash transaction valued at approximately $2.0 billion.
 
The transaction, which is expected to close in the first half of 2021, is subject to the approval of Virtusa’s shareholders, customary regulatory requirements, including approval from The Committee on Foreign Investment in the United States (CFIUS), and customary closing conditions. The transaction is not subject to a financing condition.
 
Virtusa is a global provider of digital strategy, digital engineering, and IT services and solutions that help clients change and disrupt markets through innovation engineering. BPEA is one of the largest and most established private alternative investment firms in Asia.
 
The Goodwin team was led by John Egan, Joe Johnson, Joe Theis, Andrew Goodman, and Lillian Kim.
 
For more details, read the press release