Virtusa acquires treasury/asset management consultancy TradeTech for $20M

|About: Virtusa Corporation (VRTU)|By:, SA News Editor

Virtusa (VRTU +1.9%) acquires Swedish treasury/asset management consulting outfit TradeTech Consulting Scandinavia for $20M in cash and up to $4M in earn outs. The firm has 60 employees with a business centered in Nordic countries.

Management expects TradeTech to contribute revenue of $4.2M in FQ4, with EPS unaffected inclusive of $800K in acquisition-related amortization. The transaction is expected to be accretive to EPS for FY2015.