{"id":24421,"date":"2021-05-21T05:41:50","date_gmt":"2021-05-21T05:41:50","guid":{"rendered":"https:\/\/rbsitsoftwaresolution.com\/blog\/suse-ipo-disappoints.html"},"modified":"2021-05-21T05:41:50","modified_gmt":"2021-05-21T05:41:50","slug":"suse-ipo-disappoints","status":"publish","type":"post","link":"https:\/\/www.rbsitsoftwaresolution.in\/blog\/suse-ipo-disappoints.html","title":{"rendered":"SUSE IPO disappoints"},"content":{"rendered":"

Swedish private equity firm EQT had high hopes for its SUSE IPO<\/a> on the Frankfurt Stock Exchange, and set the European Linux and cloud power’s IPO price at \u20ac30 per share. Alas, SUSE’s shares opened at \u20ac29.50 per share.\u00a0<\/p>\n

By the close of business on May 20th, the stock crept up to \u20ac30.39. This gave it a market cap of around \u20ac5 billion (approximately $6.1 billion). This is nothing to sneeze at, but it wasn’t what EQT hoped for either. Before the IPO, EQT had sought an IPO price as high as \u20ac34 per share.<\/p>\n

Still, this was no failure. SUSE and its backers sold 37.8 million shares in the IPO, for \u20ac1.1 billion. EQT is still keeping a stake. SUSE itself continues to do well with reported revenue of $503 million for the 2020 financial year.<\/p>\n

The Germany-based company has changed owners several times over the years. First, SUSE was acquired by Novell<\/a> in 2004. Then, Attachmate, with some Microsoft funding, bought Novell and SUSE<\/a> in 2010. Next, in 2014, Micro Focus purchased Attachmate<\/a> and SUSE was spun off as an independent division. Finally, EQT purchased SUSE from Micro Focus for $2.5 billion<\/a> in 2018.<\/p>\n

SUSE has also been expanding beyond Linux. In late 2020, SUSE bought Rancher Labs<\/a> in a major Kubernetes<\/a> move. Like its Linux rivals Canonical<\/a> and Red Hat<\/a>, SUSE believes its future lies not just with the Linux plumbing that underlies most enterprise-level technology but in containers and clouds as well.\u00a0<\/p>\n

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