Virrtue acquires Virgate to expand reach in European finance and accounting sector

In a significant move within the finance and accounting business process outsourcing (BPO) industry, Virrtue has officially announced its acquisition of Virgate, a technology-driven accounting services provider based in Gloucester, England. This acquisition marks a pivotal step for Virrtue, a rapidly expanding finance and accounting BPO company, as it looks to strengthen its presence across the United Kingdom and Europe.

Strategic Alignment and Enhanced Capabilities

Arvind Perumbala, Senior Vice President of Virrtue, highlighted the strategic fit between the two companies, stating, “Virgate sets itself apart with exceptional, end-to-end accounting services through workflow-driven technology platforms, enabling small, medium, and large businesses to focus on their core business. Virrtue’s strong technology platforms can help bring even more value to clients. I am excited to partner with Virgate to develop innovative offerings, continue to deliver exceptional services and to grow our footprint in the UK and Europe.”

Sarah Travell, Founder & CEO of Virgate, also expressed enthusiasm about the integration with Virrtue, noting, “Virgate perfectly fits Virrtue’s philosophy of continuous innovation. Leveraging our expertise and best practices, we’ve crafted effective solutions for our varied clients with advanced technology. Joining Virrtue will provide a tremendous boost to our capabilities at this stage of our journey.”

Maintaining Brand Identity and Market Focus

Post-acquisition, Virgate will continue to operate under its established brand in the UK, functioning as a subsidiary of Virrtue. This arrangement allows Virgate to maintain its brand identity and client relationships while benefiting from the broader resources and technological prowess of Virrtue. Meanwhile, Virrtue will maintain its focus on expanding its client base in the United States, where it serves industries such as healthcare, property management, real estate, hospitality, and oil and gas.

Technological Synergy and Market Growth

The acquisition is supported by the advanced technology portfolios of both companies, positioning them for unprecedented growth in their respective market sectors. Virrtue, a subsidiary of Access Healthcare, leverages global delivery, workflow optimization, and proprietary AI-enabled automation platforms to deliver transformational services. Virgate, known for its bespoke financial and accounting services, serves over 50 clients in sectors like food services, retail, and hospitality in the UK, providing them with swift and accurate financial reporting to aid regulatory compliance and performance analytics.

Novistra Capital acted as the financial advisor for Virrtue in this strategic transaction. The deal is expected to enhance Virrtue’s capabilities and extend its market reach, reinforcing its position as a leader in the global finance and accounting BPO market.