Virtusa Corporation, a global
IT services company that offers a broad spectrum of business consulting and
outsourcing services, announced that Virtusa acquired substantially all
of the assets of ALaS Consulting, a provider
of consulting and advisory services to financial services companies.
The acquisition expands Virtusa’s leading position within
the banking and financial services industries (BFS) by adding capital markets
and investment banking domain expertise, consulting and program management
ALaS provides Virtusa with approximately 150
practitioners, including former senior Wall Street professionals with
significant industry experience, driving critical initiatives in areas such as
regulatory compliance; trading desk operations improvement and controls;
software package selection, program management and functional testing; and
increasing automation to reduce costs.
ALaS currently works with leading global financial
institutions and maintains relationships with key decision makers within these
organizations. Virtusa will provide the combined client base an integrated
offering, including deep domain knowledge, consulting-led solutions, technology
implementation and industry leading global delivery execution. Virtusa
will target this integrated offering to simplify complexities and
accelerate business outcomes for banking and financial services institutions.
We are pleased to welcome the ALaS team to
Virtusa. Erik DiGiacomo, President of ALaS, will
lead our new capital markets line of business. This acquisition
will further enable Virtusa to identify and execute transformational programs,
take on the downstream technology implementation and strengthen Virtusa’s
strategic position across its BFSI client base,” said Kris Canekeratne,
chairman and CEO, Virtusa.
By TelecomLead.com Team