The insurance software company’s layoffs follow its announcement in May it was relocating its headquarters to Denver.
Insurance software company Vertafore says it plans to keep its Bothell office open, correcting erroneous information on the state’s website that indicated it was closing.
A notice filed with the Employment Security Department said the company is laying off 120 people in the state. That’s true, Vertafore confirmed, but the employees were let go earlier this year.
The company announced in May that it planned to relocate its headquarters to Denver, following its sale the previous year to two private equity firms. Bain Capital and Vista Equity Partners bought the firm from TPG Capital. The company was reportedly valued at about $2.7 billion.
When the company was sold in May 2016, it had about 500 employees in the Puget Sound region and 1,300 employees total.
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Vertafore, develops technology that insurance agents use to keep track of customers.