EQT Said to Plan IPO of $6 Billion Software Developer SUSE

guest · Nov 17, 2020

EQT Said to Plan IPO of $6 Billion Software Developer SUSE
EQT bought open-source software developer under 2 years ago
November 6, 2020
https://www.bloomberg.com/news/arti...plan-ipo-of-6-billion-software-developer-suse

EQT AB is planning an initial public offering of German enterprise software developer SUSE, according to people familiar with the matter.

The private equity firm is speaking to potential advisers about the possibility of listing SUSE as soon as next year, the people said, asking not to be identified because the information is private. It could seek a valuation of about 5 billion euros ($5.9 billion) for the open-source software firm, according to the people.
Discussions are at a preliminary stage, and there’s no certainty EQT will decide to proceed, the people said.
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SUSE, known for its chameleon logo, built a version of the Linux operating system that large companies use to run their servers. It has more than 1,600 employees, according to EQT’s website.
In July, SUSE agreed to buy Rancher Labs Inc. to gain tools used for managing cloud infrastructure.

SUSE’s revenue rose 14% in the three months through July 31, driven by “significant growth” in North America and Asia Pacific, according to a statement on its website.
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