Transaction Announcement: Virtusa Corporation

Brandon K. Eck | Managing Director
Technology & Media Group
beck@janney.com | (215) 665-6050

Andrew M. Kurz, CFA | Vice President
Technology & Media Group
akurz@janney.com | (215) 665-6461

January 2014 – Virtusa Corporation (NasdaqGS:VRTU) announced the pricing of an underwritten public follow-on offering of 2,300,000 primary shares at $34.50 per share. In addition, Virtusa granted the underwriters of the offering a 30-day option to purchase up to 345,000 shares, which was exercised in full. Including the over-allotment, 2,645,000 shares were sold for total gross proceeds of $91.3 million. Net proceeds from the offering are expected to be used to repay the outstanding borrowings drawn down under Virtusa’s $25.0 million revolving credit facility to fund its January 2, 2014 acquisition of Trade Tech Consulting Scandinavia AB and its subsidiaries. The remaining net proceeds are expected to be used for general corporate purposes.

Janney Montgomery Scott LLC served as a co-manager on this transaction.

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Virtusa Corporation (NasdaqGS:VRTU) provides end-to-end information technology (IT) services to Global 2000 companies. Founded in 1996 and headquartered in Massachusetts, Virtusa has operations in North America, Europe, and Asia


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