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Virtusa Buys ALaS
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<blockquote data-quote="lkdood" data-source="post: 10551369" data-attributes="member: 92282"><p><img src="http://upload.wikimedia.org/wikipedia/en/b/b5/Virtusa_logo.png" alt="" class="fr-fic fr-dii fr-draggable " style="" /></p><p></p><p> </p><p><strong>Virtusa Corp. (VRTU) acquired the financial-services consulting firm ALaS Consulting LLC for $27.8 million in cash, a move that adds capital markets and investment banking expertise to its services. </strong></p><p><strong></strong></p><p><strong> Virtusa, a provider of information-technology services, said ALaS adds about 150 practitioners, including former senior Wall Street professionals with significant industry experience. Virtusa has agreed to issue up to $4 million of restricted stock to these new Virtusa employees. The shares will vest annually over a four-year period. </strong></p><p><strong></strong></p><p> <strong> Virtusa expects ALaS to contribute revenue of $24 million to $26 million and to increase per-share earnings by 1 cent to 5 cents for the year ending March 31. </strong></p><p><strong></strong></p><p><strong> The company will book about $375,000 of the estimated $450,000 in transaction expenses in the fiscal first quarter ended June 30. In May, Virtusa reported its fiscal fourth-quarter profit rose 46% as revenue jumped 22%. </strong></p><p><strong></strong></p><p><strong> Shares closed at $19.29 Friday and were inactive premarket. </strong></p><p></p><p>Dow Jones</p></blockquote><p></p>
[QUOTE="lkdood, post: 10551369, member: 92282"] [IMG]http://upload.wikimedia.org/wikipedia/en/b/b5/Virtusa_logo.png[/IMG] [B]Virtusa Corp. (VRTU) acquired the financial-services consulting firm ALaS Consulting LLC for $27.8 million in cash, a move that adds capital markets and investment banking expertise to its services. [/B] [B] Virtusa, a provider of information-technology services, said ALaS adds about 150 practitioners, including former senior Wall Street professionals with significant industry experience. Virtusa has agreed to issue up to $4 million of restricted stock to these new Virtusa employees. The shares will vest annually over a four-year period. [/B] [B] Virtusa expects ALaS to contribute revenue of $24 million to $26 million and to increase per-share earnings by 1 cent to 5 cents for the year ending March 31. [/B] [B] The company will book about $375,000 of the estimated $450,000 in transaction expenses in the fiscal first quarter ended June 30. In May, Virtusa reported its fiscal fourth-quarter profit rose 46% as revenue jumped 22%. [/B] [B] Shares closed at $19.29 Friday and were inactive premarket. [/B] Dow Jones [/QUOTE]
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