Acquisition For Virtusa

Westborough-based global IT services company Virtusa Corp. has acquired privately held technology consulting firm InSource LLC for $7.3 million.

The Connecticut company, which has about 50 employees, will become a wholly owned subsidiary of Virtusa. Virtusa said the move will expand its offerings to the insurance and health care industries. The company said it has been working in partnership with InSource since the start of 2009.

Virtusa also announced a decline in revenues from $44 million in the third quarter of 2008 to $37.5 million for the same quarter this year and an increase in profit from $1.3 million to $3 million.