TA Associates Announces Minority Investment in MISA

TA associates

BOSTON and HONG KONG – TA Associates, a leading global growth private equity firm, today announced that it has completed a minority investment in MISA Joint Stock Company (“MISA”), a leading software provider in Vietnam. Financial terms of the transaction were not disclosed.

Founded in 1994, MISA provides accounting, financial, enterprise resource planning (“ERP”) and business management software to enterprises, government and individuals across Vietnam. The Company serves more than 70,000 government sector clients and 100,000 small and medium-sized enterprise (“SME”) clients across the country. MISA has more than 1,500 employees throughout its offices in Hanoi, Da Nang, Buon Ma Thuot, Ho Chi Minh City and Can Tho.

“MISA is among the software industry leaders for both the public and private sectors in Vietnam, with a high quality business model and an impressive history of generating meaningful growth,” said Edward Sippel, a Managing Director at TA Associates and Co-head of Asia operations of TA Associates Asia Pacific Ltd who will join the MISA Board of Directors. “With its innovative product offerings, talented management team and commitment to customer service, we believe that MISA is well positioned to capitalize on both organic and inorganic growth opportunities. We are excited about this partnership, and are looking forward to working collaboratively with the MISA team.”

“Since establishing MISA more than 25 years ago, we have strived to design and deliver software solutions that are effective and user-friendly for our dedicated customer base,” said Long Lu Thanh, Founder and Chairman of MISA. “As we seek to aggressively scale our business model and augment growth through a variety of new services, it is critical to have a genuine partner by our side who is fully aligned with and supportive of our go-forward strategy, understands the software industry well and provides impactful value-add. We have found that partner in TA Associates, and we look forward to leveraging their deep global experience within the software sector and technology space to help take our company to the next level.”

“To date, our team has worked diligently to help change the level of productivity and efficiency of individuals and organizations throughout Vietnam,” said Dinh Thi Thuy, Chief Executive Officer of MISA. “As a quality investor with a true global reach, we believe that TA Associates will play a key role in helping us expand into new markets to promote sustainable growth within our business. We welcome TA to the MISA family.”

“Given Vietnam’s rapid development as an attractive emerging market, the country’s software industry is enjoying significant growth, particularly as companies are beginning to acknowledge and comprehend the benefits of capital expenditure savings that cloud software provides,” said Jonathan Meeks, a Managing Director at TA Associates. “Because of this, we believe that MISA is well-positioned to maintain its growth trajectory by continuing to secure new clients and contracts within government agencies and prominent enterprises while simultaneously transitioning to even more advanced cloud-based SaaS products. We sincerely thank the MISA team for this partnership opportunity.”

About MISA
MISA is an accounting, financial, ERP and business management software provider for enterprises, government and individuals across Vietnam. The company has more than 70,000 government sector clients and 100,000 SMEs, retail, and food and beverage clients across Vietnam. For more information, please visit www.misa.com.vn/en.

About TA Associates
TA Associates is one of the most experienced global growth private equity firms. Focused on targeted sectors within five industries – technology, healthcare, financial services, consumer and business services – TA invests in profitable, growing companies with opportunities for sustained growth, and has invested in more than 500 companies around the world. Investing as either a majority or minority investor, TA employs a long-term approach, utilizing its strategic resources to help management teams build lasting value in high quality growth companies. TA has raised $32.5 billion in capital since its founding in 1968 and is committing to new investments at the pace of over $2 billion per year. The firm’s more than 85 investment professionals are based in Boston, Menlo Park, London, Mumbai and Hong Kong. More information about TA Associates can be found at www.ta.com.

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Teamleader acquires software company Yadera: “a perfect match”

Fortino Capital

Today, we are proud: proud to announce that the Belgian software company Yadera is now under the wings of our portfolio company Teamleader! With this acquisition, they welcome a fine team with outstanding software into the Teamleader family.

Since 2012, Teamleader has been committed to simplifying the work of small and medium-sized companies. This acquisition strengthens the position of Teamleader as the all-in-one solution for SMEs.

“A perfect match”

The current Teamleader offering – a simple tool that combines CRM, project management and invoicing – is aimed at small service companies, such as construction professionals and a wide range of agencies. Yadera’s software describes itself as ‘Professional Services Automation’ and simplifies the daily work of medium-sized companies, such as creative agencies, marketing agencies, consultancy and IT companies. A great combination!

“We can now grow with customers who are expanding their business and getting bigger.”

Read more about this acquisition on Teamleader’s Blog.

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IRIS Software Group enters definitive agreement to acquire FMP Global

HG Capital

Iris Software Group is today announcing it has entered into a definitive agreement to acquire FMP Global, from Tenzing, the UK lower mid-market investor. FMP is a leading provider of payroll and HR services to international and UK based Small and Medium sized Enterprises.

Set to be the largest acquisition by IRIS to date, FMP Global is closely aligned with the Group’s mission to be the most trusted provider of mission critical software and services. In the UK, US and internationally, FMP supports over 1,750 businesses in 135 countries, providing international HR consultancy, outsourced global payroll services, and international money transfers.

Please find the full press release here.

Kevin Dady, CEO of IRIS Software Group says, “As part of our acquisition strategy, we continue to identify opportunities to expand both domestically and internationally where we can apply our expertise in compliance-driven software. Bringing FMP into the Group is transformative, expanding IRIS’ footprint into the US and other international markets, while also further strengthening our position in the UK payroll and HR sectors.

“Domestically we are seeing an increased demand for fully or partially outsourced payroll management solutions and internationally, we are seeing a growing payroll requirement for businesses of all sizes. IRIS’ heritage, combined with its marketing reach, investment in cloud technology and sector expertise will help propel FMP Global to the next phase of its growth.”

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ClickSoftware to be Acquired by Salesforce for $1.4 Billion Enterprise Value

Franciso Partners

San Francisco and London – Francisco Partners, a leading technology-focused global private equity firm, today announced it has entered into a definitive agreement to sell ClickSoftware (“Click”) to Salesforce (NYSE: CRM) for an enterprise value of $1.4 billion. Francisco Partners took Click private in 2015.

Click is a leading provider of field service management solutions and optimization technology. The company arms field service professionals and mobile workers with innovative, AI-driven technologies and real-time schedule and route optimization at scale to improve their efficiency and effectiveness. Founded in 1997, Click is a pioneer in applying complex algorithms and artificial intelligence to workforce management and today helps manage over 1 million field resources around the world in a wide variety of industries including for organizations like Bosch, Deutsche Telekom, Ericsson and Unisys.

“Since inception, Click has had a unique technology to optimize service. It has been our pleasure to partner with the Click team for these last four years as we worked with them to accelerate innovation and growth,” said Matt Spetzler, partner at Francisco Partners. “We are grateful for the opportunity to support Click and all of its great employees. We wish them continued success as part of Salesforce,” added Petri Oksanen, partner at Francisco Partners.

“Francisco Partners provided valuable strategic support, capital, and resources that allowed us to execute on a strong strategic vision,” said Mark Cattini, CEO of ClickSoftware. “They were an exceptional partner for us and worked closely with our team to help improve many aspects of our business and accelerate growth.”

Goldman Sachs acted as the exclusive financial advisor and Paul Hastings acted as legal advisor to Francisco Partners.

Additional detail on the transaction can be found here: https://www.salesforce.com/company/news-press/press-releases/2019/08/190708-d/

About Francisco Partners

Francisco Partners is a leading global private equity firm that specializes in investments in technology and technology-enabled businesses. Since its launch over 20 years ago, Francisco Partners has raised over $14 billion in committed capital and invested in more than 275 technology companies, making it one of the most active and longstanding investors in the technology industry. The firm invests in opportunities where its deep sectoral knowledge and operational expertise can help companies realize their full potential. For more information on Francisco Partners, please visit: www.franciscopartners.com

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Gimv sells stake in thinkstep AG, the Stuttgart-based specialist in sustainability software.

GIMV

Gimv, together with all other shareholders, is selling its stake in Stuttgart-based software firm thinkstep AG (www.thinkstep.com) to US software provider Sphera Solutions. Thanks to the long-term support of all investors, thinkstep has grown substantially and successfully transformed its business model into a software-as-a-service solution (SaaS).

Headquartered in Leinfelden-Echterdingen near Stuttgart, thinkstep was founded in 1991 as a provider of software and consulting services supporting companies globally in sustainability management and reducing their environmental footprint. In the last few years, thinkstep has continuously expanded its impressive customer base and now serves over 2,000 clients in 20 industries, including a large number of Fortune 500 companies in Germany and around the world.

thinkstep AG operates in three fields. Corporate Sustainability introduces and implements sustainability processes, such as enterprise-wide energy management, corporate social responsibility management and active resource optimization. Product Sustainability helps clients take account of environmental issues early in the design stage in order to fully integrate adequate measures into product management and production processes. thinkstep’s Product Compliance solution identifies and mitigates compliance and reputation risks at an early stage.

Gimv first invested in thinkstep in 2010, acquiring a minority stake alongside Next47 with the aim to provide capital, know-how and connections to help the firm expand globally, strengthen its operations, and switching from a licence-based model to SaaS. Over time, Gimv and Next47 gradually increased their investment while some of the founders remained on board as minority shareholders. In this way, thinkstep has expanded to become a world-leading software provider in enterprise sustainability and compliance solutions. The exit of the current shareholders and the planned integration of the business into the operations of Sphera marks the next step in the company’s successful development.

Dr. Sven Oleownik, Partner and Head of Germany at Gimv, says, “Over the past few years, thinkstep has undergone a remarkable transformation and fundamentally converted its business model. Global activity and technological development have been driven forward, all on the back of an extremely loyal customer base. Rising expectations among both investors and consumers for companies to do business in an ethical and environmentally conscious way result in a highly attractive and rapidly expanding market for sustainability solutions. thinkstep is therefore ideally positioned for the future and will continue to extend its market leadership under its new owners.”

Lisa Hengerer, Associate at Gimv’s Smart Industries platform in Munich, adds: “thinkstep has been another success within the software segment of Gimv’s Smart Industries platform. This sale to a global industrial player from the US is an excellent example how Gimv Smart Industries supports its portfolio companies in their strategic development and on their growth path to become attractive for an international renowned industrial player like Sphera Solutions.”

This exit has no major impact on the Net Asset Value of Gimv as of 31 March 2019. The transaction is subject to the usual conditions, including approval by the competition authorities. No further financial details on this transaction are being published.

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Black Mountain Systems Announces Acquisition by Vista Equity Partners

Vista Equity

SAN DIEGO–(BUSINESS WIRE)–Black Mountain Systems, LLC (“Black Mountain”), the leading provider of innovative workflow software solutions to credit investors and alternative asset managers, announced today that it is being acquired by Vista Equity Partners (“Vista”), a leading investment firm focused on enterprise software, data and technology-enabled businesses.

“Black Mountain has long been the standard-bearer for process management and portfolio monitoring solutions in its field”

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Vista’s investment in Black Mountain will help drive the software company’s continued growth domestically and internationally, while also providing new capital to invest in the development of Black Mountain’s state of the art platform and tailored solutions for data aggregation, process management, and business reporting.

“We’re thrilled to become a part of the Vista family and look forward to the myriad of ways that their investment will help us grow our company, better serve our customers, and expand our team,” said Black Mountain founder and co-CEO Kevin MacDonald. “We look forward to working with them as we enter this next chapter.”

“This investment is a significant milestone for our company, our employees, and our customers,” said Black Mountain co-CEO Andy Horwitz. “We’ve already established ourselves as the market leader in workflow software for credit, structured credit, and alternative asset managers and now we have a partner in Vista who will help us leverage and build upon that leadership position with financial and intellectual capital to accelerate our growth.”

Black Mountain’s software and data aggregation capabilities provide mission critical solutions and valuable insights to a customer base that includes 50 of the top 100 Collateralized Loan Obligation managers, leading private debt funds, commercial banks and alternative asset managers, representing more than two trillion dollars in total assets under management.

“Black Mountain has long been the standard-bearer for process management and portfolio monitoring solutions in its field,” said Robert F. Smith, Founder, Chairman and CEO of Vista Equity Partners. “We’re looking forward to working with this talented and innovative company to push it even further ahead of the competition, unlocking new value for both customers and stakeholders.”

Black Mountain’s current investor, Stone Point Capital LLC (“Stone Point”), acquired the software company in 2015. Stone Point will exit its partnership with Black Mountain upon its sale to Vista, which is subject to customary closing conditions and regulatory approvals.

“We thank Andy Horwitz, Kevin MacDonald and the Black Mountain team for an outstanding partnership,” said Chuck Davis, CEO of Stone Point. “Black Mountain has achieved significant growth in revenue and profitability since our investment in 2015, and we wish the company much continued success under Vista’s ownership.”

Jefferies LLC served as the exclusive financial advisor to Black Mountain, and Kramer Levin Naftalis & Frankel LLP was the company’s legal advisor. SunTrust Robinson Humphrey acted as financial advisor to Vista, and Kirkland & Ellis served as Vista’s legal advisor.

About Black Mountain Systems

Black Mountain is a software company that offers highly configurable solutions including portfolio management, trade order management, compliance, research management, investment accounting, performance attribution, customer relationship management, investor reporting, enterprise data management and data warehousing. Clients consist of many of the world’s leading investment managers, credit funds, hedge funds, private equity, direct lenders and banks who use the company’s platform to manage all varieties of loans, fixed income, alternatives, derivatives, equities, and FX. Black Mountain’s software can be configured to model any business process, store any data, integrate with any system, and provide transparency for all of the above in any format. For more information about Black Mountain visit: www.blackmountainsystems.com

About Vista Equity Partners

Vista Equity Partners is a U.S.-based investment firm with offices in Austin, Chicago, New York City, Oakland, and San Francisco and more than $46 billion in cumulative capital commitments. Vista exclusively invests in enterprise software, data, and technology-enabled organizations led by world-class management teams. As a value-added investor with a long-term perspective, Vista contributes professional expertise and multi-level support towards companies to realize their full experience in structuring technology-oriented transactions, and proven management techniques that yield flexibility and opportunity. For more information, please visit www.vistaequitypartners.com.

About Stone Point Capital

Stone Point Capital LLC is a financial services-focused private equity firm based in Greenwich, CT. The firm has raised and managed seven private equity funds – the Trident Funds – with aggregate committed capital of approximately $19 billion. Stone Point targets investments in companies in the global financial services industry, including asset and wealth management; advisory, broker-dealers and merchant trading; banking institutions; HR benefits and employer services; insurance underwriting; insurance distribution and services; managed care and healthcare services; outsourcing and technology; real estate finance and services; and specialty finance and non-bank lending. For more information, please visit www.stonepoint.com.

Contacts

For Black Mountain Systems:
Liz Speier
lspeier@blkmtn.com

For Vista Equity Partners:
Alan Fleischmann
vista@laurelstrategies.com
202-776-7776

CPA Global and ipan/Delegate Group announce closing of merger and future outlook for the combined organization

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Castik Capital

IP management and technology companies CPA Global® and ipan/Delegate Group today announce the closing of their previously announced merger.

The new organisation will deliver best-in-class technology and integrated software, and IP services solutions for corporations and law firms globally. These solutions will offer a unique customer experience and superior service supported by the global footprint of our combined team.

Simon Webster, CEO of the combined group, commented: “I am delighted to announce that we are now one company. The combination of our two companies and the great teams that work within each of them will accelerate our primary focus of delivering solutions that meet our customers’ most important intellectual property management needs.”

Patrice Durand, CEO of ipan/Delegate, commented: “We’re very excited to start working with the CPA Global teams on bringing our joint vision to life. We aim at driving innovation to the benefit of the IP industry, to improve interactions between our customers, partners and teams.”

About CPA Global

CPA Global is a trusted IP management company, leading by blending new technology with unrivalled expertise to better many of the world’s respected corporations and law firms. Delivered by an outstanding global team of 2400 people, our integrated offering sets the standard for reliability and secure, verified IP data. For our customers, we minimise risk and deliver actionable IP intelligence for better decision making. Put simply, we take the hassle out of IP management, liberating our customers to focus on what they do best.

About ipan/Delegate Group

ipan/Delegate Group was formed in 2018 through the combination of Intellectual Property Associates Network (ipan) and Delegate (formerly Valipat/Envoy). Headquartered in Brussels, Belgium and Munich, Germany with offices globally, the Group’s customer centric approach to optimizing process and innovative web enabled platforms has made it the solution of choice for IP owners and law firms across the world. The Group offers services for annuities and renewals, EP validations, IP foreign filing and IP Recordals and three Intellectual Property Management Software (IPMS), namely Unycom, IPSS and IPfolio.

EQT acquires Cast & Crew – a leading provider of software and services to the entertainment industry

eqt

  • EQT VIII acquires Cast & Crew, a leading provider of software and services to the entertainment industry, covering payroll & human resources, accounting & financial management and workflow & productivity
  • Cast & Crew’s solutions simplify and automate complex processes for companies and productions in the film, television, digital streaming, commercial and live events markets
  • EQT will support Cast & Crew’s impressive growth trajectory by leveraging its operational and financial resources, including deep sector expertise within TMT and Services and its global network of Industrial Advisors

The EQT VIII fund (“EQT” or “EQT VIII”) today announced that it has agreed to acquire Cast & Crew Entertainment Services (the “Company”), a leading technology provider of software and services to the entertainment production industry, from global technology investing leader Silver Lake.

Founded in 1976 and based in Burbank, California, Cast & Crew provides solutions that simplify and automate complex processes for companies and productions in the entertainment industry. Its software products and services assist in the areas of payroll & human resources, accounting & financial and workflow & productivity. The Company has a 40-year track record of supporting its customers’ creative pursuits. Cast & Crew’s software products and services have supported the production of some of the highest-grossing films and music tours of all time, Emmy award-winning television and digital streaming programs, commercials for many of the most well-known brands, Tony award-winning Broadway shows, major sports and live event venues and many of the most highly attended music festivals.

EQT will support Cast & Crew in its next phase of development as the Company focuses on accelerating product and service expansion in current and new verticals, while continuing to provide best-in-class service to its customers. Moreover, EQT will leverage its local European presence and extensive Industrial Advisor Network to accelerate the Company’s international expansion, initially focused in Europe.

Kasper Knokgaard, Partner at EQT Partners, Investment Advisor to EQT VIII comments: “We have been very impressed with the Company’s performance and vision for continued transformation in the entertainment industry. We are delighted to have the opportunity to help shape the next phase of growth for Cast & Crew, together with an exceptionally talented group of people being led by CEO Eric Belcher and President John Berkley — supported by an outstanding executive management team. Cast & Crew will be able to leverage the entire EQT platform, including our deep sector expertise and network of Industrial Advisors, to capitalize on the growth opportunities in current and untapped market segments.”

Eric Belcher, CEO of Cast & Crew, continues: “We are all proud of what Cast & Crew has achieved in recent years under Silver Lake’s stewardship as our majority shareholder. We have built a very strong foundation for the future across software products, value-added services and a very strong employee base focused on customer service and success. We are delighted to partner with EQT and leverage its international presence and deep sector expertise within media, technology and services as we move through the next phase of our continued growth.”

Joe Osnoss and Lee Wittlinger, Managing Directors at Silver Lake, add: ”We thank Cast & Crew’s outstanding management team and employees for their partnership during a period characterized by impressive growth, accelerating technology innovation and expansion into new entertainment end markets. We hope and expect that the company will achieve continued success under EQT’s ownership.”

Morten Hummelmose, Chairman of EQT Partners Inc. and Head of EQT Equity U.S., concludes: “This is an important transaction for EQT’s large buyout business, as it represents our first transaction in the U.S. in the TMT and Services sectors. EQT has a long and successful track record of developing technology companies, and we are confident this will be a great partnership that will benefit Cast & Crew and all of its stakeholders.”

The transaction is subject to customary closing conditions.

Goldman Sachs & Co. LLC., Simpson Thacher & Bartlett LLP and Aon served as advisors to EQT VIII. Moelis & Company LLC and Morgan Stanley & Co. LLC served as lead financial advisors to Cast & Crew. Cast & Crew was also advised by J.P. Morgan. Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal advisor.

Contacts
Kasper Knokgaard, Partner at EQT Partners, Investment Advisor to EQT VIII, +1 917 603 4798
US inquiries:

Stephanie Greengarten, +1 646 687 6810, stephanie.greengarten@eqtpartners.com

Michael Geczi, +1 818 525 3301, michael.geczi@castandcrew.com

Patricia Graue, +1 212 333 3810, silverlake@brunswickgroup.com

International inquiries: EQT Press Office, +46 8 506 55 334, press@eqtpartners.com

About EQT
EQT is a leading investment firm with approximately EUR 50 billion in raised capital across 28 funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 19 billion and approximately 110,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More info: www.eqtpartners.com

About Cast & Crew
Cast & Crew provides payroll and human resources, accounting and financial, and workflow and productivity software and services to the entertainment industry. Cast & Crew’s services include payroll processing, residuals processing, workers’ compensation services, labor relations, and production incentives management and financing. Cast & Crew’s PSL production accounting software serves the needs of the film, television and digital media industries. The company was founded in 1976, and its corporate headquarters are in Burbank, California.

More info: www.castandcrew.com

About Silver Lake
Silver Lake is the global leader in technology investing, with about $45.5 billion in combined assets under management and committed capital and a team of approximately 100 investment and value creation professionals located in Silicon Valley, New York, London, and Hong Kong. Silver Lake’s portfolio of investments collectively generates more than $225 billion of revenue annually and employs more than 390,000 people globally.

More info: www.silverlake.com

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Leading talent marketing solutions provider, partners with Google to improve candidate engagement and conversion

Symphony Talent, a leading talent marketing solutions provider, today announced its partnership with Google Cloud Talent Solution to provide its clients with enhanced search capabilities to attract, hire and engage high-quality talent faster.

Google Cloud Talent Solution provides a combination of search APIs that leverages machine learning and Google’s learnings in search to produce better search performance and conversion by delivering high-quality results to job seekers far beyond the limitations of typical keyword-based methods. This integration provides candidates with the same superior search experience they have come to expect from Google. The seamless integration of Google Cloud Talent Solution with the career site job content of Symphony Talent’s clients will help return enhanced search results for candidates that account for the role level, jargon, abbreviations and acronyms, and misspellings. In addition, the job search capability leverages machine learning, so the results will continue to improve over time.

“Our partnership with Google Cloud Talent Solution delivers a significant opportunity for our clients to optimize their candidate and recruiter experiences,” said Roopesh Nair, president and CEO, Symphony Talent. “The synchronicity of Google’s industry-leading search capabilities with our data-driven, experience-focused solutions will empower global brands to redefine how they connect with quality talent.”

Symphony Talent has collaborated with Google to deliver enhanced search capabilities and advance the candidate experiences for its portfolio of global clients, such as UCLA Health and Hilton Grand Vacations.

According to Nair, the benefits of Symphony Talent’s seamless integration with Google Cloud Talent Solution include:

0_medium_SymphonyTalent-logo-DblStkd-RGB1.png
  • More accurate results and a shorter funnel for candidates
  • Enhanced candidate and recruiter experiences
  • Higher apply rates and decreased drop-off
  • Increased candidate conversion
  • Better fit candidates

Symphony Talent is an alpha partner for future Google Cloud Talent Solution enhancements, including the profile APIs. This partnership and shared vision between Symphony Talent and Google Cloud Talent Solution will also allow their teams to collaborate and further advance the experiences, job search function, candidate job recommendations and the recruiter profile search on Symphony Talent’s platform.

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EQT to acquire leading open source software provider SUSE

eqt

  • EQT VIII to acquire SUSE, a leading global provider of open source infrastructure software for enterprises
  • EQT VIII is partnering with CEO Nils Brauckmann and his team to support SUSE’s next period of growth and innovation, and to strengthen its position as leading open source player both organically and through add-on acquisitions
  • SUSE to further build its brand and unique corporate culture as a stand-alone business

The EQT VIII fund (“EQT” or “EQT VIII”) has agreed to acquire SUSE, a leading global provider of open source infrastructure software for large enterprises, from the global infrastructure software business Micro Focus International plc (“Micro Focus”) for an enterprise value of USD 2.535 billion. The transaction is subject to Micro Focus shareholder and customary regulatory approvals.

Founded in 1992, SUSE is the world’s first provider of an enterprise-grade open source Linux operating system. With sales of USD 320 million in the 12 months ended October 31, 2017 and approximately 1,400 employees worldwide, SUSE is today a market leader in enterprise-grade, open source software-defined infrastructure and application delivery solutions for on premise and cloud-based workloads. During the ownership of Micro Focus, SUSE has operated as a semi-independent business under the leadership of Nils Brauckmann, executing on a clearly defined growth charter. SUSE has also successfully expanded its product portfolio, including solutions for cloud and storage as well as container and application delivery technology.

EQT VIII will support SUSE’s next period of growth and innovation as an independent company. The strategy includes strengthening its position as a leading open source player, both organically and through add-on acquisitions, leveraging EQT’s long-term experience in the software space. Priorities will be to further build SUSE’s public cloud business and to expand its next-generation product offerings in order to strengthen SUSE as a leading provider commercializing open source for enterprise customers.

“Today is an exciting day in SUSE’s history. By partnering with EQT, we will become a fully independent business,” said Nils Brauckmann, CEO of SUSE. “The next chapter in SUSE’s development will continue, and even accelerate, the momentum generated over the last years. Together with EQT, we will benefit both from further investment opportunities and having the continuity of a leadership team focused on securing long-term profitable growth combined with a sharp focus on customer and partner success. The current leadership team has managed SUSE through a period of significant growth and now, with continued investment in technology innovation and go to market capability, will further develop SUSE’s momentum going forward.”

Johannes Reichel, Partner at EQT Partners and Investment Advisor to EQT VIII, adds: “We are excited to partner with SUSE’s management in this attractive growth investment opportunity. We were impressed by the business’ strong performance over the last years as well as by its strong culture and heritage as a pioneer in the open source space. These characteristics correspond well to EQT’s DNA of supporting and building strong and resilient companies, and driving growth. We look forward to entering the next period of growth and innovation together with SUSE.”

The transaction is subject to approval from Micro Focus shareholders and other relevant authorities.

Jefferies acted as lead financial advisor and Arma Partners acted as financial advisor to EQT VIII. Milbank, Tweed, Hadley & McCloy LLP and Latham & Watkins LLP acted as legal advisors to EQT VIII.

Contacts
Johannes Reichel, Partner at EQT Partners, Investment Advisor to EQT VIII, +49 89 255 49 904
EQT Press office, +46 8 506 55 334

Suse

About SUSE
SUSE, a pioneer in open source software, provides reliable, software-defined infrastructure and application delivery solutions that give enterprises greater control and flexibility. More than 25 years of engineering excellence, exceptional service and an unrivaled partner ecosystem power the products and support that help our customers manage complexity, reduce cost, and confidently deliver mission-critical services. The lasting relationships we build allow us to adapt and deliver the smarter innovation they need to succeed – today and tomorrow.

More info: www.suse.com

About EQT
EQT is a leading investment firm with approximately EUR 50 billion in raised capital across 27 funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 19 billion and approximately 110,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More info: www.eqtpartners.com

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