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Virtusa To Be Bought Out In $2.0B Cash Deal

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Virtusa Corp. announced Thursday a deal to be acquired by Baring Private Equity Asia (BPEA) in a deal valued at $2.0 billion. The digital engineering and information technology company's stock was up 4.8% in premarket trading prior to a trading halt for news. Under terms of the deal, BPEA will pay $51.35 in cash for each Virtusa share, which is 26.8% more than Wednesday's closing price of $40.50. The deal is expected to close in the first half of 2021.

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