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Message: <blockquote data-quote="anjwj" data-source="post: 25672157" data-attributes="member: 127032">Baring Private Equity Asia (BPEA), one of the largest private alternative investment firms in Asia, and Virtusa Corporation, which employs over 3, 000 software engineers in Sri Lanka, yesterday announced a definitive merger agreement under which funds affiliated with BPEA will acquire all outstanding shares of common stock of Virtusa for US$ 51.35 per share in an all-cash transaction valued at approximately US$2.0 billion, US media reports said. <table style='width: 100%'><tr><td><img src="https://ci5.googleusercontent.com/proxy/SH8FYKr-8vcU9uqIv08-CYiZL-mE9zJ8WmwdM75avQBJ6LSud4niRIXR-SRpHa6Q8vZYkoYbLw8Hnvb3A-tmj2cICMl9OE-aQ908kLyV6YaSv-A=s0-d-e1-ft#http://static.dailymirror.lk/assets/uploads/image_6ccc421cdb.jpg" alt="" class="fr-fic fr-dii fr-draggable " style="" /> Kris Canekeratne</td></tr></table>Virtusa Corporation, founded in Sri Lanka 18 years ago and later became a multinational firm with a listing on the US NASDAQ, is a global business consulting and IT outsourcing company that combines innovation, technology leadership and industry solutions to transform the customer experience.Virtusa Chairman and CEO Kris Canekeratne said, “This transaction represents a strategic evolution for Virtusa and a unique opportunity to take our business to new heights at a time of accelerating digital adoption.”“The benefits of this transaction extend to all Virtusa stakeholders, including our shareholders, who will receive immediate and substantial cash value, as well as to our team members, since BPEA has an exemplary track record of valuing innovative and talented global teams and supporting and empowering the businesses in which it invests. With a strong partner in BPEA, we will solidify our position at the forefront of digital transformation for years to come,” he added.The transaction, which is expected to close in the first half of 2021, is subject to the approval of Virtusa’s shareholders, customary regulatory requirements, including approval from The Committee on Foreign Investment in the United States (CFIUS), and customary closing conditions. The transaction is not subject to afinancing condition.BPEA is one of the largest and most established private alternative investment firms in Asia, with assets under management of approximately US$ 20 billion.The firm runs a private equity investment program, sponsoring buyouts and providing growth capital to companies for expansion or acquisitions with a particular focus on the Asia Pacific region, as well as investing in companies globally that can benefit from further expansion into the Asia Pacific region. BPEA also manages dedicated funds focused on private real estate and private credit. The firm has a 23-year history and over 190 employees located across offices in Hong Kong,China, India, Japan, Singapore, Australia, and the US. BPEA currently has over 40 portfolio companies active across Asia with a total of 224,000 employees and sales of approximately US$ 39 billion.<a href="http://www.dailymirror.lk/business-news/Baring-Private-Equity-Asia-affiliated-funds-to-acquire-Virtusa-in-US-2bn-deal/273-195657" target="_blank">http://www.dailymirror.lk/business-news/Baring-Private-Equity-Asia-affiliated-funds-to-acquire-Virtusa-in-US-2bn-deal/273-195657</a></blockquote>

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