SUSE reports IPO planned in May

EQT, a private-equity fund based in Sweden with assets of € 52 billion, is preparing to spin out German Linux giant SUSE through an initial public offering (IPO). .. According to sources from Reuters and ZDNet, SUSE’s IPO is expected to total € 7-8 billion. The IPO spin-out of SUSE appears to have been planned from late 2020. Before that, SUSE has changed owners several times. First, Novell acquired it in 2004. Next, Attachmate acquired Novell and SUSE in 2010, funded by Microsoft. And in 2014, after the merger of Micro Focus and Attachmate, SUSE was spun off as an independent business. In March 2019, EQT acquired SUSE from Micro Focus for $ 2.5 billion. SUSE has been growing since then. SUSE’s third-quarter sales, announced in September 2020, increased 14% year-over-year. This is the result of the spread of the new coronavirus, which is affecting the global economy. Cloud’s annual contract orders (ACV) were extremely strong, up 81% year-on-year. As a result, ACV achieved a year-on-year increase for 14 consecutive quarters. The company also saw a 35% increase in large deals over $ 1 million, a 50% increase in ACV for SUSE Linux Enterprise Server (SLES) for SAP Applications, and a 25% increase in ACV in the United States. SUSE’s business model continues to evolve. The company is a leading Linux distributor on par with Canonical and Red Hat, but is also focusing on containers and the cloud. SUSE announced in July 2020 that it would acquire Rancher Labs, making a big move in Kubernetes. According to Reuters, the IPO will be led by Bank of America and Morgan Stanley, with Goldman Sachs, Deutsche Bank and Jefferies as co-underwriters. The IPO may take place in May, he said.