At what enterprise value was SUSE acquired in 2023?

During the acquisition of SUSE by EQT PARTNERS in 2023, the transaction's Enterprise Value is estimated to be in the range of 1b - 4b EUR.

What was the EV/EBITDA of SUSE when it was acquired by EQT PARTNERS?

The estimated EV/EBITDA multiple for SUSE is in the range of 5x - 12x.

When was SUSE acquired by EQT PARTNERS?

SUSE was acquired by EQT PARTNERS in 2023.

What was the revenue of SUSE at the time of the deal?

The revenue of SUSE at the time of the deal is estimated to be in the range of 450M - 900M EUR.

What was the EBITDA of SUSE during the acquisition?

SUSE's EBITDA is estimated to be in the range of 150M - 250M EUR.

How is the data for the SUSE acquisition sourced and is it reliable?

Mynth data is contributed by a professional community of M&A and Private Equity experts. Each transaction, including the SUSE deal, is systematically cross-verified by our team using private deal documents and official sources. You can also find the official press release for this transaction here: https://links.imagerelay.com/cdn/3404/ql/cbdb8896e7424865b270293c051e2c15/SUSE-Private-Equity-Press-Release.pdf

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Home Database TMT (Tech, Media, Telecom)SUSE

08/2023

SUSE acquired by EQT PARTNERS

GERMANY Software EV 1b - 4b EUR

Context

EQT Private Equity, holding approximately 79% of SUSE’s shares, initiated a voluntary public purchase offer to acquire all remaining outstanding shares. The strategic objective is to transition SUSE from a publicly traded entity on the Frankfurt Stock Exchange to a private company. This move aims to provide the company with a stable environment to focus on long-term strategic execution and operational priorities, free from the constraints of public market quarterly reporting cycles. The transaction includes a complex financial structure involving an interim dividend paid to all shareholders, which facilitates the financing of the purchase. The management and supervisory boards support this strategic shift, viewing it as an opportunity to reinforce the partnership between EQT and SUSE’s leadership team. This transaction does not involve a squeeze-out; minority shareholders may choose to remain invested in the company in a private setting if they wish, though the offer is intended to facilitate full control for the majority shareholder.

SUSE, which reported an EBITDA margin of in 2022, is valued in this transaction at an EV/EBITDA multiple of , representing a to the average currently observed in the TMT (Tech, Media, Telecom) sector (15.3x).

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Target

SUSE S.A. is a global leader in enterprise-grade open source solutions, providing essential software infrastructure to modern businesses. The company’s core business model is built around its flagship Linux Enterprise (SLE) operating system, alongside robust cloud-native management and security tools, specifically Rancher (for Kubernetes management) and NeuVector (for container security). Its value proposition centers on enabling digital transformation by providing reliable, secure, and interoperable open source technology that supports mission-critical workloads across hybrid and multi-cloud environments. The company’s strategy focuses on enabling enterprise organizations to innovate faster and maintain operational resilience. By delivering an integrated suite of open source technologies, SUSE allows its customers to manage, scale, and secure complex application ecosystems efficiently. The firm serves as a critical partner for enterprises navigating the shift toward containerization and microservices, ensuring high-availability and security in rapidly evolving digital landscapes.

Ent. Value

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Multiples

EV / Revenue

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EV / EBIT

Historical Financials (EUR)

Year

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2022

2021

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REFERENCES

Valuation range: EV 1b - 4b EUR

Revenue range: 450M - 900M EUR

EBITDA range: 150M - 250M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of SUSE by EQT PARTNERS are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Target: suse

Acquirer: eqt partners