M&A Deal Summary

Baring Private Equity Asia Acquires Virtusa

On September 10, 2020, private equity firm Baring Private Equity Asia acquired information technology company Virtusa for 2.0B USD

Acquisition Highlights
  • This is Baring Private Equity Asia’s 3rd transaction in the Information Technology sector.
  • This is Baring Private Equity Asia’s 5th largest (disclosed) transaction.
  • This is Baring Private Equity Asia’s 4th transaction in the United States.
  • This is Baring Private Equity Asia’s 1st transaction in Massachusetts.

M&A Deal Summary
Date 2020-09-10
Target Virtusa
Sector Information Technology
Buyer(s) Baring Private Equity Asia
Deal Type Going Private
Deal Value 2.0B USD
Advisor(s) J.P. Morgan Securities
Citi (Financial)
Goodwin Procter (Legal)

Target

Virtusa

Southborough, Massachusetts, United States
Virtusa Corp. provides end-to-end information technology (IT) services to companies. Services include IT consulting, application maintenance, development, systems integration, and managed services. Virtusa was formed in 1996 and is based in Westborough, Massachusetts. Virtusa was founded in 1996 and is based in Southborough, Massachusetts.

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Buyer(S) 1

Buyer

Baring Private Equity Asia

Hong Kong, China

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1997
PE ASSETS 17.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Baring Private Equity Asia is an Asia-focused private equity group specializing in growth equity investments and buyouts of companies valued between $300 million and $1.5 billion. Baring looks for companies that require capital for organic expansion, recapitalizations, or to fund acquisitions. The Group's geographic coverage spans China, India, Japan, Singapore, Hong Kong, and Taiwan. Baring Private Equity Asia was formed in 1997 and is based in Hong Kong.

DEAL STATS #
Overall 37 of 43
Sector (Information Technology) 3 of 4
Type (Going Private) 6 of 6
State (Massachusetts) 1 of 1
Country (United States) 4 of 5
Year (2020) 1 of 1
Size (of disclosed) 5 of 15
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-04 Wall Street English

Hong Kong, China

Wall Street English is a provider of English language training to adults. Wall Street English was founded in 1972 and is based in Hong Kong, China.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-03 TELUS

Vancouver, British Columbia, Canada

TELUS is a global provider of customer service, IT, and business process services to industry leaders across the telecommunications, utilities, high tech, gaming, finance, retail, e-commerce, travel and logistics, and health care sectors. With over 175 million customer interactions supported annually via voice, email, chat, and social media, across the telecommunications, utilities, high tech, gaming, finance, retail, e-commerce, travel and logistics, and health care industries, TELUS International enables customer experience innovation through spirited teamwork, agile thinking, and a caring culture that puts customers first. TELUS was incorporated in 2005 and is based in Vancouver, Brittish Columbia.

Sell -
Mergr

Product

Company

Legal