Virtusa Prices IPO

Virtusa Corp., a Westborough, Mass.-based provider of IT consulting, technology implementation and application outsourcing, raised $61.6 million through its IPO. It priced 4.4 million common shares at $14 per share ($14-$16 range), for an initial market cap of approximately $320 million. Virtusa will trade on the Nasdaq under ticker symbol VRTU, while JPMorgan servedas lead underwriter. The company had raised around $72 million in total VC funding since 2000, from firms like Sigma Partners (24.6% pre-IPO position), Charles River Ventures (16.2%) and Globespan Capital Partners (15.6%).