Eversheds advises Virtusa on acquisition of TradeTech Consulting Scandinavia

Eversheds’ Swedish office has advised Virtusa Corporation, which has, through its Dutch subsidiary, acquired Swedish company TradeTech Consulting Scandinavia.

The acquisition expands Virtusa’s 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 for a consideration of $20m (£12m) in cash as well as up to $4m in earn-out consideration upon certain agreed criteria having been met.

The Eversheds team consisted of Ulrika Sparrman (responsible partner) and Caroline Wikström, Anna-Carin Ljungberg and Patrik Nyqvist.