EQT to acquire open source software provider SUSE
EQT VIII fund has agreed to acquire SUSE, a provider of open source enterprise software, from Micro Focus for $2.535 billion. The transaction aims to strengthen SUSE's market position and support its growth.
The EQT VIII fund, managed by EQT Group, has agreed to acquire SUSE, a global provider of open source infrastructure software for enterprises, from Micro Focus International plc. The transaction values SUSE at an enterprise value of $2.535 billion.
Founded in 1992, SUSE is recognized as the world's first provider of an enterprise-grade open source Linux operating system. With approximately $320 million in sales for the 12 months ending October 31, 2017, and around 1,400 employees worldwide, SUSE is a leader in software-defined infrastructure and application delivery solutions for both on-premise and cloud environments.
EQT VIII intends to support SUSE's continued growth and innovation as an independent company. The strategy includes strengthening its position in the open source market through organic development and potential add-on acquisitions. Key priorities will be to enhance SUSE's public cloud business and expand its next-generation product offerings.
"Today is an exciting day in SUSE’s history. By partnering with EQT, we will become a fully independent business," stated Nils Brauckmann, CEO of SUSE. "The next chapter in SUSE’s development will continue, and even accelerate, the momentum generated over the last years."