Overture cuts 20 jobs in Triangle and Texas

MORRISVILLE -- Overture Networks, a maker of high-speed telecommunications equipment, has cut 20 jobs in the Triangle and Texas after its acquisition of Ceterus Networks in Richardson, Texas.

The layoffs affected overlapping positions in sales, operations and engineering, with about half the cuts at Overture's Morrisville headquarters. Overture announced the Ceterus acquisition Tuesday.

Eight-year-old Overture has doubled its size since last year. With the Ceterus acquisition, it employs 95 people, including about 60 in Morrisville.

Overture makes networking devices for high-speed data connections for businesses, including Verizon Business and TW Telecom.

Buying Ceterus will allow Overture to sell networking equipment for wireless applications, Overture CEO Jeff Reedy said.

The terms of the deal were not disclosed.

Overture has been financed by $44 million in venture capital investments since 2001.