Billion-Dollar IT Company Expands To Halifax
HALIFAX—A billion-dollar IT company is among the latest global corporations to expand operations to Halifax.
Virtusa Corporation is a “global provider of digital business strategy, digital engineering, and information technology services and solutions.”
In a news release announcing its expansion into Halifax, Virtusa says its decision was spurred by the city’s “extremely diverse and skilled local talent pool, as well as top tier university graduates.”
“Virtusa is proud to be expanding into Nova Scotia which is home to a booming technology hub and a talented and innovative workforce,” said Virtusa EVP Sanjay Deshpande. “We are truly thankful for our partnership with NSBI which has played a vital role in helping us identify Halifax as an ideal location to expand our Canadian presence.”
Virtusa was founded in 1996 in Sri Lanka but is now headquartered in Southborough, Massachusetts. In February of this year, Virtusa was acquired by an Asian private equity firm for US$2-billion.
According to the U.S. Securities And Exchange Commission, Virtusa pulled in more than $1.3-billion in gross revenue in 2020 and had close to $1.4 billion in assets.
The company employs around 25,000 people across the globe and has offices in the US, UK, Canada, Australia, and across the Middle East and Europe. It’s been in Canada for more than 15 years, with offices in Toronto and Montreal.
In May, Nova Scotia Business Inc. approved a development business incentive for Virtusa.
According to NSBI, Virtusa has the potential to create as many as 180 jobs in the province. NSBI says those potential new employees could pay as much as $4,125,000 of provincial payroll and sales taxes.
That means the company is eligible for a rebate of as much as $2,457,000 from the provincial government over five years.
Virtusa says most of the roles it wants to fill in the city will be in development, engineering, support services, business analysis, and consulting services.
This story was last updated August 6.