SUSE, the open source firm behind SUSE Enterprise Linux, Rancher, NeuVector, and other projects, is being taken private by its majority shareholder, which plans to merge it into an unlisted Luxembourg entity.
“SUSE’s Management Board and Supervisory Board support the strategic opportunity from delisting of the company as it will allow SUSE to focus fully on its operational priorities and execution of its long-term strategy,” the company said in a release.
Other shareholders will be offered 16.00 euros per share, minus the amount of an upcoming interim dividend, approximately a 67 per cent premium on the closing price yesterday.
“I believe in the strategic opportunity of taking the company private – it gives us the right setting to grow the business and deliver on our strategy with the new leadership team in place,” said Dirk-Peter van Leeuwen, chief executive officer of SUSE. “EQT Private Equity’s and SUSE’s partnership in a private setting has been fruitful before and we are excited about the long-term potential of the company and our continued collaboration”.
The deal is expected to complete in the fourth quarter of this year, following an extraordinary general meeting.