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A global information technology services company which uses an offshore delivery model to provide a range of information technology services, including IT consulting, technology implementation and application outsourcing.
I gave VRTU a red thumb because of their business model. Essentially they are an offshore software development company. The do projects for large customers like British Telecom and Metavante as well as develop software products for software companies using less expensive technical talent, primarily from Sri Lanka. The problem is that they sell people-based products/services and they have fixed costs whether those prople are working or not. In addition, there is very little they can get via economies of scale; they're people writing code and they can't write a piece of code in 1/2 the time by doubling the resources working on it. It's a clean, well-run company that is shareholder friendly but offshore software development is not going to outperform the market.
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