Virtusa makes $48mn plans for India, Lanka

Virtusa Corporation, a global provider of software development and IT services, has announced that it plans to invest $33 million in India and $15 million in Sri Lanka to accommodate the company's operations and growth plans during fiscal 2007.

The company has provided these comments from Software 2006 in Santa Clara, CA, where the company is a sponsor and exhibitor.

Virtusa currently employs 2,500 employees in India (Hyderabad and Chennai) and Sri Lanka (Colombo). Virtusa has secured over six acres of property in Hitec City, Hyderabad, where it plans to develop a campus for up to 5,000 employees.

The company has also announced that new customer wins and expanded existing client relationships are driving continued growth. Virtusa has long-term relationships with enterprise software companies like Pegasystems, Vignette and Pango, and during the past year has added new clients like Iron Mountain.