It started with 10 engineers in a Colombo home, listed on Nasdaq and sold for $2 billion. Meet Virtusa
Kris Canekeratne cofounded Virtusa in 1996 and led it for 25 years. Colombo remains one of its most important technology centres.
- $2B
- acquisition in 2021
- 3,000+
- engineers in Colombo
- 35,000
- employees globally
A tech company cofounded in Colombo in 1996 went public on Nasdaq, scaled to 35,000 employees globally and was acquired for $2 billion. Sri Lanka was at the centre of it from day one.
The founder
It started with Kris Canekeratne, a Sri Lankan born and raised in Colombo. He launched Virtusa with six engineers in his basement in Boston and ten more working from his parents' home in Colombo. He led the company as Chairman and CEO for 25 years until the acquisition.
The company
Virtusa is a global digital engineering company. It serves 20+ Fortune 50 companies and four of the top five banks in both the US and India. Its clients span banking, financial services, insurance, healthcare, telecom and media.
In 2021, Baring Private Equity Asia acquired Virtusa for $2 billion, one of the largest tech deals in the region.
Colombo's role
Virtusa's Colombo operation is one of its most significant advanced technology centres in the world. 3,000+ engineers. A Global Technology Office focused on R&D, advanced research and engineering excellence. Fortune 500 clients served directly from Colombo.
In 2023, Virtusa expanded its Colombo headquarters by 13,000 sq. ft. to keep up with growth. The company has publicly stated its goal to double its Sri Lankan headcount.
From a Colombo living room to Nasdaq to a $2 billion acquisition. Sri Lanka's largest tech employer, and still expanding.
Sources
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