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Virtusa Corporation has announced that People’s United Bank is utilizing its vEngage solution, built on Pega Customer Decision Hub and Adobe Experience Platform, to enhance customer decisioning capabilities. The collaboration aims to improve the bank's ability to predict customer needs and deliver tailored financial services, leveraging a 360-degree view of customer interactions. With over $63 billion in assets, People's United Bank is focused on retaining customer loyalty through personalized experiences as digital banking grows more competitive.
Virtusa has signed a five-year agreement with Bloomin’ Brands to manage the IT infrastructure for its portfolio of restaurants, including Outback Steakhouse and Carrabba’s. This strategic partnership will enable Virtusa to provide exclusive managed IT services, enhancing cloud transformation and operational efficiency. The collaboration aims to implement advanced solutions like contactless payments and mobile ordering systems, positioning Bloomin’ Brands for long-term success in the competitive casual dining market.
Virtusa Corporation has partnered with Pegasystems and Converge International to implement a digital transformation aimed at doubling the caseload capacity for employee mental health services across Australia. This collaboration leverages Virtusa's Digital Transformation Studio and Pega's healthcare solutions, projected to streamline processes and enhance service delivery within a year. Converge International currently offers over 300,000 hours of service annually through a team of over 1,600 specialists, especially vital during crises like COVID-19.
Baring Private Equity Asia has successfully completed the acquisition of Virtusa Corporation (NASDAQ GS: VRTU), taking the company private. Virtusa will stop trading on the NASDAQ before market open on February 11, 2021. The acquisition aims to enhance Virtusa's capabilities in digital transformation, leveraging its skilled workforce and expertise. Both parties expressed confidence in the partnership, emphasizing the strategic importance of this move amid increasing digital adoption.
Virtusa Corporation (NASDAQ GS: VRTU) has been recognized as a Leader in the Everest Group Pega Services PEAK Matrix® Assessment 2021. This assessment evaluates service providers based on their market impact and capabilities. Virtusa's achievements stem from its strong market adoption, diverse service offerings, and innovative solutions like its Triple R framework, which enhances customer experiences through intelligent automation. The company has effectively implemented Pega solutions across various industries including financial services and healthcare, showcasing its expertise in digital transformation.
Virtusa Corporation (NASDAQ: VRTU) announced that its stockholders voted to approve a merger agreement with Baring Private Equity Asia (BPEA). Under this deal, BPEA will acquire all outstanding shares of Virtusa for $51.35 per share, valuing the transaction at approximately $2.0 billion. During the special meeting on November 20, 2020, about 98.7% of shares voted in favor, representing approximately 81.1% of total outstanding shares. The transaction is expected to close in the first half of 2021, pending regulatory approvals.
Virtusa Corporation (NASDAQ GS: VRTU) announced achieving twelve Expertise designations within Google Cloud’s Partner Advantage Program, highlighting its strength in various priority workloads including ML & APIs, Identity and Security, and Analytics. This recognition indicates strong customer success with Google Cloud. As a Premier Partner, Virtusa offers extensive services in strategy, migration, cloud-native solutions, data analytics, SaaS, security, and managed services to enhance clients’ cloud adoption and innovation.
Virtusa Corporation (NASDAQ: VRTU) has launched Virtusa iComms, an intelligent marketplace designed for Communications Service Providers (CSPs) to enhance innovation and integrate various technology solutions. The platform offers over 200 open APIs and 50 AI models, assisting CSPs in efficiently scaling operations, particularly with the anticipated growth of 5G connections. Virtusa iComms aims to address the challenges CSPs face in adapting to changing consumer behaviors and leveraging emerging technologies, providing a comprehensive suite of solutions across various operational areas.
Virtusa Corporation (NASDAQ: VRTU) has signed an agreement with New Mountain Vantage Advisers (NMV), which owns approximately 10.8% of its stock, regarding director elections and its acquisition by Baring Private Equity Asia (BPEA). NMV has withdrawn its nominations for directors and agreed to vote in favor of the acquisition at a price of $51.35 per share. The deal is set to close in the first half of 2021. Patricia "Patty" Morrison has been appointed as a new independent director, adding valuable healthcare IT experience to Virtusa's Board.
Virtusa Corporation (NASDAQ GS: VRTU) has been recognized as a Leader in The Forrester Wave™: Digital Process Automation Service Providers, Q3 2020 evaluation by Forrester Research. This evaluation assessed 13 DPA Service Providers, highlighting Virtusa's strengths in current offerings, strategy, and market presence. The company is noted for its effective methodology that integrates enterprise architects into delivery processes to align technology. Virtusa aims to enhance digital transformation for clients across various industries, including banking and healthcare, through its Digital Transformation Studio.
