Seattle-area cloud migration startup BitTitan acquired by B2B software company Idera
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.
The company reported double-digit revenue growth last year with the acceleration of cloud adoption amid the pandemic. It competes with Dell, Amazon, Google, Microsoft and others.
BitTitan will join Idera’s Data Tools business unit that includes brands such as IDERA, AquaFold, Qubole, Webyog, and WhereScape.
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. BitTitan, ranked No. 49 on the GeekWire 200 list of top Pacific Northwest startups, won the Next Tech Titan honor at the GeekWire Awards in 2017.
Earlier this year BitTitan acquired Perspectium, a 75-person company that helps companies manage their data on ServiceNow.
Global M&A deals are nearing record highs this year, due in part to cheap financing and SPAC acquisitions.