Microsoft and Nokia redux
We knew when Microsoft bought Nokia, Nokia was doomed.
We knew when IBM bought Red Hat, Red Hat was doomed.
"...it also helps us balance the organization as we have many engineers with senior titles."
This is madness; the difficulty of the position determines the seniority of the staff you hire.
If you cannot afford all the people you want to hire, you hire *less*; you do not hire the *same number of people* but ensure they are *all* underqualified for their position.