Thursday, Feb 9, 2023

BitTitan is hit by layoffs after Idera acquisition

Idera is laying off BitTitan employees following its acquisition of the Bellevue, Wash.-based cloud service provider. A new WARN filing with the..


BitTitan is hit by layoffs after Idera acquisition

Idera is laying off BitTitan employees following its acquisition of the Bellevue, Wash.-based cloud service provider.

A new WARN filing with the state of Washington indicates that 70 workers will be laid off in January. That’s a majority of the company’s workforce in the Seattle region.

BitTitan employs more than 200 people total, according to LinkedIn. The company also has an office in Singapore.

We’ve reached out to Idera for more details and will update this story if we hear back.

Idera, an Austin-based company that manages a portfolio of B2B software brands, announced its acquisition of BitTitan last month.

Founded in 2007, BitTitan sells to IT service providers, value-added resellers, and system integrators, helping them migrate to the cloud via its product MigrationWiz. It also sells Voleer, an IT services automation platform.

BitTitan founder and CEO Geeman Yip bootstrapped the company for nearly a decade before raising a $15 million round in June 2016. The startup raised growth capital from Vistara Capital Partners in 2019.

Yip left BitTitan following the acquisition announcement last month.

Idera said it was adding BitTitan to its Data Tools business unit that includes brands such as IDERA, AquaFold, Qubole, Webyog, and WhereScape.

Idera has also acquired UltraEdit, Xray, Xporter, PreEmptive, and apilayer this year.

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By: Taylor Soper
Title: BitTitan hit with layoffs following Idera acquisition
Sourced From: www.geekwire.com/2021/bittitan-hit-with-layoffs-following-idera-acquisition/
Published Date: Thu, 18 Nov 2021 18:13:25 +0000