Tag: 220M

Progress makes layoffs at Chef after $220M acquisition, says it remains committed to roadmap

Progress CEO Yogesh Gupta

Business application platform Progress is making an unspecified number of job cuts at Chef after completing its previously announced $220 million acquisition of the Seattle-based enterprise automation technology company this week.

People impacted by the cuts include a portion of Chef’s engineering team, including employees in Seattle and other locations, prompting former colleagues and others in the developer community to rally around them on the #cheffriends hashtag on Twitter.

In an interview with GeekWire this week, Progress CEO Yogesh Gupta said the 40-year-old Boston-area company remains committed to Chef’s product roadmap, open-source projects and business customers, calling Chef a strong cultural match for Progress and “a perfect fit from an overall strategy perspective.”

“We continue to see tremendous potential moving forward with the folks from Chef that have come on board, and the Progress team working together,” he said.

Gupta said Chef’s strengths in enterprise automation

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Chef to be acquired for $220M by Progress in ‘next chapter’ for Seattle automation tech company

Chef CEO Barry Crist. (GeekWire File Photo / Todd Bishop)

Updated below with details from interview with Chef CEO Barry Crist.

Business application platform Progress will acquire Seattle-based automation technology company Chef for $220 million in cash under a deal announced Tuesday.

It’s a major turn of events for a company that has been a mainstay of the Pacific Northwest tech community for more than a decade. Progress, based in Bedford, Mass., is publicly traded on the Nasdaq. The acquisition “will provide the scale to further drive Chef’s platform forward and deliver additional value to our customers,” said Chef CEO Barry Crist in a statement about the deal.

Progress CEO Yogesh Gupta

Chef raised more than $100 million in funding over its lifetime as a private company from investors including Battery Ventures, Citi Ventures, DFJ, Ignition Partners, and Hewlett Packard Ventures. The 270-person company, founded in 2008 as Opscode, focused

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