Virrtue, a rapidly growing finance and accounting BPO company, has expanded into the UK market with its recent acquisition of tech-driven accounting services company, Virgate. The acquisition was announced on Thursday, 30 May 2024.
Based in Gloucester, England, Virgate is a trusted partner to businesses across the UK and Europe, providing end-to-end accounting services through workflow-driven technology platforms. With this acquisition, Virrtue aims to bring even more value to its clients through its strong technology platforms and partnerships.
Arvind Perumbala, Senior Vice President of Virrtue, expressed his excitement for the partnership, 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 and CEO of Virgate, also commented on the partnership, saying, “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.”
Under the terms of the acquisition, Virgate will continue to operate under its own business name in the UK as a subsidiary of Virrtue. Virrtue will maintain its focus on growing its client base in the United States, while also utilizing the advanced technology portfolio of Virrtue to drive growth in the UK and European markets. Financial advisory firm Novistra Capital assisted Virrtue in the transaction.
Virrtue is a subsidiary of Access Healthcare, one of the largest independent providers of Revenue Cycle Management solutions to clients in the US healthcare industry. With over 27,000 employees working from 20 service delivery centers across the US, India, and the Philippines, the company brings value to clients through global delivery, workflow optimization, and a proprietary, AI-enabled automation platform.
Virgate, which will continue to operate under its current business name, is a preferred partner to small and medium enterprises in the UK, providing bespoke finance and accounting services to over 50 clients in the food services, retailing, and hospitality industries. Its cutting-edge technology enables swift and accurate financial reports to aid regulatory compliance and in-depth performance analytics.
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Derick is an experienced reporter having held multiple senior roles for large publishers across Europe. Specialist subjects include small business and financial emerging markets.