Virtusa Corporation, a US Nasdaq listed company, has, through its Dutch subsidiary, acquired the Swedish company TradeTech Consulting Scandinavia AB. The acquisition expands Virtusa’s leading position within the banking, financial services and insurance industries by increasing its asset management and treasury services domain and technology expertise. The acquisition will also result in an expansion of Virtusa’s footprint in the Nordics.

Virtusa acquired TradeTech Consulting Scandinavia AB for a consideration of MUSD 20 in cash as well as up to MUSD 4 in earn-out consideration upon certain agreed criteria have been met.

Eversheds’ Swedish office advised Virtusa in the transaction. Eversheds’ team consisted of Ulrika Sparrman (responsible partner) and Caroline Wikström, Anna-Carin Ljungberg and Patrik Nyqvist.