Domain Expertise

July 8, 2011 (LBO) – Virtusa a US based firm which has a development centre in Sri Lanka, has bought ALaS, a New York based consultancy for banking, financial services, insurance and capital market industries. The acquisition will allow the firm to “take on the downstream technology implementation and strengthen Virtusa’s strategic position across its BFSI (banking, financial services, insurance) client base,” Virtusa chairman Kris Canekeratne said in a statement.

The ALaS purchase has given Virtusa 150 practitioners, including former senior Wall Street professionals. They have experience in regulatory compliance, trading desk operations improvement and controls, software package selection, program management and functional testing and increasing automation to reduce costs, the firm said.