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- SUSE
SUSE Acquisition, Valuation, Funding & Investors
SUSE was acquired by EQT for $2.9B in August 2023, a 3.7x multiple on $800M of revenue.
SUSE revenue at acquisition
$800M
Last twelve months · Aug 2023
SUSE revenue multiple at acquisition
3.7x
EV/Revenue · Aug 2023
SUSE EBITDA multiple at acquisition
11.8x
EV/EBITDA · Aug 2023
About SUSE
SUSE is a Luxembourg-based provider of enterprise open source solutions, including SUSE Linux Enterprise, the Rancher container management platform, and the NeuVector container security tool, serving more than 60% of Fortune 500 companies. Rancher Prime, its premium container management offering, combines container management with integrated security and observability capabilities for Kubernetes and other cloud-native environments. The company's product suite spans enterprise Linux, container orchestration, and full lifecycle container security for mission-critical workloads across data centers, clouds, and edge environments.
Founded
1992
HQ
Website
Status
Acquired
Customer focus
B2B
Revenue model
Subscription
Revenue
$800M (Aug 2023)
Valuation
$1.3B (May 2021)
SUSE Acquisition
SUSE was acquired by EQT for $2.9B on 17 August 2023.
The acquisition price implies a 3.7x revenue and 11.8x EBITDA multiple on $800M of revenue.
SEPARATE, LATER transaction on a company we already hold a 2018 deal for: EQT VIII, which already owned about 79 percent of Frankfurt-listed SUSE, launched a voluntary public purchase offer for the free float at EUR 16.00 per share (less an interim dividend), a ~67 percent premium to the EUR 9.605 XETRA close on 17 August 2023, and announced its intention to delist. EQT expressly said it would NOT pursue a squeeze-out. The EUR 2.7bn figure is Bloomberg's reported valuation of the whole company implied by the offer, not an EQT-disclosed number - treat as approximate. Duplicate risk against the 2018 row is the reason for medium confidence. No row for the 2023 delisting/take-private was found in deals.
| Acquirer | Date | Type | Price | EV/Revenue | EV/EBITDA |
|---|---|---|---|---|---|
| 17 Aug 2023 | PE buyout | $2.9B | 3.7x | 11.8x |
Sources: eqtgroup.com, suse.com, bloomberg.com
SUSE Valuation
SUSE is currently valued at $1.3B, based on its ipo round in May 2021. Read the announcement ↗
The round included Public market investors.
SUSE valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| May 2021 | IPO | $1.3B |
SUSE Funding History
SUSE has raised 1 funding round.
| Date | Stage | Investors | Valuation | Deal Summary |
|---|---|---|---|---|
| May 2021 | IPO | Public market investors | $1.3B | SUSE S.A. listed on the Frankfurt Stock Exchange Prime Standard, priced 2021-05-17 at EUR 30.00 per share with first trading 2021-05-19. Total offering c. EUR 1.1 billion including 14.2m existing shares plus a 4.8m greenshoe sold by EQT vehicle Marcel LUX III SARL. Market cap c. EUR 5.0 billion. |
Who has invested in SUSE?
1 investor has backed SUSE across its funding rounds, including Public market investors.
SUSE Investors
| Investor | Rounds | Role | First check |
|---|---|---|---|
This data is available for Pro users. Sign up to see all 1 SUSE investors. Start Free Trial | |||
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Start Free TrialAcquisitions by SUSE
SUSE has acquired 4 companies to date.
Last acquisition by SUSE was on February 19th 2026. SUSE acquired Losant for undisclosed valuation.
Latest Acquisitions by SUSE
| Description | Losant is a Cincinnati-headquartered developer platform for building Internet of Things solutions. Founded in 2015, the platform offers data collection, aggregation, and visualization tools for processing sensor data in industrial and enterprise applications. | StackState is a Netherlands-headquartered observability platform utilizing a versioned graph database to map IT topology across hybrid, cloud-native, and container environments. The 4T Data Model combines topology, telemetry, traces, and time-series data to pinpoint root causes of incidents. Enterprises including Accenture, Vodafone, KPN, Danske Bank, and AXA employ StackState for AIOps, reducing mean time to resolution by correlating dynamic dependencies. Founded in 2015, the Utrecht-based firm supports Kubernetes, AWS, Azure, and on-premises infrastructures. | NeuVector is a San Francisco-headquartered provider of container and Kubernetes security platforms that protect workloads from build to runtime. Acquired by SUSE in 2021, its solution scans images for vulnerabilities, enforces network policies, and detects behavioral anomalies using eBPF technology. DevOps teams use it for compliance with PCI-DSS, HIPAA, and NIST across cloud-native environments on AWS, Azure, and on-premises data centers. | Rancher Labs is a container orchestration platform built on Kubernetes for enterprise IT operations. The software manages clusters across clouds like AWS, Azure, and on-premises environments, supporting deployment, scaling, and monitoring. Founded in 2014 and headquartered in Cupertino, California, Rancher was acquired by SUSE in 2020 and powers millions of container instances globally. |
| HQ Country | ||||
| HQ City | Cincinnati, OH | Hilversum | San Jose, CA | San Jose, CA |
| Deal Date | 19 Feb 2026 | 18 Jun 2024 | 28 Oct 2021 | 8 Jul 2020 |
| Valuation | undisclosed | undisclosed | $130M | $600M |
| EV/Revenue | ||||
| EV/EBITDA | ||||
This data is available for Pro users. Sign up to see all SUSE acquisitions and their M&A valuation multiples. Start Free Trial | ||||
SUSE Competitors
SUSE competitors include listed companies like VeriSign, ServiceNow, Megaport and OVHcloud, and private ones like Aiven and United Internet Ventures.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $1.7B | $1.2B | $27B | 16.6x | ||
| Publicly listed | $13B | $2.6B | $143B | 9.6x | ||
| Publicly listed | $222M | $15M | $3B | 9.9x | ||
| Private | $100M | - | $3B | 30.0x | ||
| Publicly listed | $1.2B | $474M | $2.9B | 3.3x | ||
| Private | - | $324M | $2.7B | - |
SUSE Public Comps
SUSE is no longer listed, but its public comps include ChronoScale, Megaport, OVHcloud, Biprogy, Sinnet Technology, Netweb Technologies India, Kingsoft Cloud, Freshworks, Sinch and SoftwareOne.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $72M | $21M | 42.5x | - | 147.6x | - | |||
| $222M | $15M | 12.3x | 9.9x | 181.8x | 32.6x | |||
| $1.2B | $474M | 3.5x | 3.3x | 9.2x | 8.2x | |||
| $2.8B | $389M | 1.1x | 1.1x | 8.2x | 7.9x | |||
| $1.1B | $72M | 3.5x | 3.6x | 51.4x | 18.4x | |||
| $228M | $30M | 12.3x | 9.0x | 92.4x | 67.4x | |||
| $1.4B | $414M | 2.2x | 1.8x | 7.5x | 5.8x | |||
| $839M | $41M | 3.2x | 2.9x | 65.7x | 11.3x | |||
This data is available for Pro users. Sign up to see all SUSE competitors and their valuation data. Start Free Trial | ||||||||
Common questions about SUSE
| When was SUSE founded? | SUSE was founded in 1992. |
| Where is SUSE headquartered? | SUSE is headquartered in Germany. |
| Is SUSE publicly listed? | No, SUSE was acquired by EQT in August 2023. |
| Who acquired SUSE? | SUSE was acquired by EQT in August 2023. |
| How much was SUSE acquired for? | SUSE was acquired for $2.9B in August 2023, a 3.7x revenue multiple. |
| What is SUSE's valuation? | SUSE was last valued at $1.3B in its ipo round in May 2021. |
| What was SUSE's last funding round? | SUSE's last funding round was a ipo round in May 2021. |
| Who are SUSE's investors? | SUSE's investors include Public market investors. |
| Which companies are comparable to SUSE? | Companies comparable to SUSE include VeriSign, ServiceNow, Megaport, Aiven, OVHcloud and United Internet Ventures. |
| How many companies has SUSE acquired? | SUSE has acquired 4 companies, including Losant, StackState, NeuVector and Rancher Labs. |
| What was the largest acquisition by SUSE? | The $600M acquisition of Rancher Labs in July 2020 is the largest acquisition SUSE has made to date. |
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