Business software

Open-source enterprise software company SUSE posts double-digit growth

SUSE CEO Melissa Di Donato poses at Aynhoe Park, Banbury, UK September 28, 2020. Kurt Rebry / via REUTERS

BERLIN (Reuters) – Open-source enterprise software company SUSE said on Tuesday that bookings of big tickets rose 21% in its fiscal fourth quarter, as the German-born private equity firm realized its biggest acquisition to date.

SUSE, acquired two years ago by Swedish investment fund EQT from Micro Focus International for $ 2.5 billion, has been the target of media speculation that it is considering a first public offering of shares.

And, while CEO Melissa Di Donato declined to comment on the IPO, she told Reuters that SUSE is positioned for rapid growth, with companies seeking greater flexibility in running software on-premises, in cloud or hybrid environments.

“Customers rely on us to be able to innovate with speed, adaptability and agility,” the US veteran of SAP, Salesforce, IBM and Oracle said in an interview.

SUSE, founded in 1992, works with companies such as Walgreens on the US drugstore chain’s largest S / 4 HANA retail environment on the Microsoft Azure cloud.

The Linux specialist has just finalized its own acquisition of Rancher Labs, leader of Kubernetes, an open source system for managing “containerized” tasks that can run automatically in different contexts.

Rancher’s deal was valued at $ 600 million, according to reports when it was announced in July.

SUSE said revenue exceeded $ 450 million in the fiscal year ended Oct. 31, with revenue and profits increasing double digits. Revenue was up from the $ 320 million reported in 2017, the year before EQT acquired the company.

The annual contract value of bookings worth more than $ 1 million rose 21% in its fiscal fourth quarter, while cloud bookings jumped 87%, the company said.

Reporting by Douglas Busvine; Editing by Susan Fenton


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