March 12, 2018 / 8:54 PM / 3 months ago

BRIEF-Virtusa Expands Digital Engineering Capabilities With The Acquisition Of Etouch

March 12 (Reuters) - Virtusa Corp:

* VIRTUSA EXPANDS DIGITAL ENGINEERING CAPABILITIES WITH THE ACQUISITION OF ETOUCH

* VIRTUSA CORP - DEAL FOR APPROXIMATELY $140.0 MILLION​

* VIRTUSA CORP - FOR Q4, MANAGEMENT CURRENTLY EXPECTS ETOUCH TO CONTRIBUTE REVENUE OF APPROXIMATELY $5.0 MILLION

* VIRTUSA CORP - PURCHASE PRICE WILL BE PAID IN THREE TRANCHES WITH $80.0 MILLION PAID AT CLOSING

* VIRTUSA CORP - ‍EXPECTS ETOUCH ACQUISITION TO BE DILUTIVE TO GAAP EARNINGS PER SHARE FOR FISCAL YEAR ENDING MARCH 31, 2019​

* VIRTUSA CORP - EXPECTS DEAL TO BE ‍ACCRETIVE TO NON- GAAP EARNINGS PER SHARE FOR FISCAL YEAR ENDING MARCH 31, 2019 ​

* VIRTUSA - TO USE $70 MILLION OF DELAYED DRAW TERM-LOAN FROM EXISTING CREDIT FACILITY,$10 MILLION OF CASH ON HAND TO MAKE PAYMENTS DUE AT DEAL CLOSING Source text for Eikon: Further company coverage: (Reuters.Brief@thomsonreuters.com)

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