Seattle-area cloud migration startup BitTitan acquired by B2B software company Idera
BitTitan, a Seattle-area cloud service provider, was acquired by Idera, an Austin-based company that manages a portfolio of B2B software brands. Terms of the contract are not disclosed.
Founded in 2007, BitTitan sells to IT service providers, VARs, and system integrators, helping them migrate to the cloud through its MigrationWiz product. It also sells Voleer, an IT service automation platform.
The company saw double-digit revenue growth last year as cloud adoption accelerated amid the pandemic. It competes with Dell, Amazon, Google, Microsoft and others.
BitTitan will join Idera’s Data Tools business unit which includes brands such as IDERA, AquaFold, Qubole, Webyog and WhereScape.
BitTitan founder and CEO Geeman Yip launched 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 BitTitan, ranked # 49 on GeekWire 200 list of best in the Pacific Northwest. startups, won the Next Tech Titan award at the GeekWire Awards in 2017.
Earlier this year, BitTitan acquired Perspectium, a 75-person company that helps businesses manage their data on ServiceNow.
Global M&A deals are approaching record highs this year, in part due to cheap financing and PSPC acquisitions.
