BPEA Affiliated Funds To Acquire Virtusa In $2.0 Bln Deal - Quick Facts

(RTTNews) - Baring Private Equity Asia, and Virtusa Corp. (VRTU) have entered a merger deal, 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 deal is anticipated to close in the first half of 2021.

Baring Private Equity Asia or BPEA is one of the largest independent private equity firms in Asia with approximately $20 billion of assets under management.

Kris Canekeratne, CEO of Virtusa, 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."