Amid the dirge of closings and layoffs, even healthy tech companies are mostly keeping mum. A former GTE engineer with major financial sector experience heads up iGATE-backed startup, which seeks to target that vertical market first. Despite canceled orders and financial troubles for some of its customers, the network security firm reports its fifth straight quarter of profitability. New contracts and partnerships are expected any day now. Hurt by poor market conditions, the Reston software developer is cutting costs by a third.
Layoff are part of the strategy.
The Dutch company will exchange 200,000 shares of its stock in exchange for a full buyout of the Northern Va. software firm. Inc. All Rights Reserved.