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Venture Capital
by tj on November 5, 2003
Novell has agreed to buy SuSe the German distributor of Linux. Novell plans to spend $210 million for the majority of SuSE shares. This will be a very welcome exit for Apax Partners.
I've researched a bit about the equity story SuSe has to show:
Taking these numbers $210 million looks like a good deal for investors. The deal brings some relief to the scarcity of exits nowadays. It's good to see a German exit.
I've researched a bit about the equity story SuSe has to show:
- Apax Partners and Intel invested in 1999 about $ 12 million in the company, which was founded in 1992 with small amounts.
- There might have been another round of financing during winter 2000, but I could not find more data about.
- In 2001 Apax Partners and e-millennium (a former consortia of Deutsche Bank and Accenture, which now seems to be defunct), invested $ 13.9 million.
Taking these numbers $210 million looks like a good deal for investors. The deal brings some relief to the scarcity of exits nowadays. It's good to see a German exit.
Permalink: Novell buys SuSe
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Vote for Novell buys SuSe:
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Rating: 8.00 out of 1 vote(s) cast.
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Response from:
Tobias
(11/06/03 9:56am)
AdAstra also invested 4.4 Million Euro, see my blog. It'd be interesting to know more about previous early stage financing rounds...
Response from:
TJ
(11/06/03 2:33pm)
Thanks for the info. It still seems mysterious if there was another round in winter 2000. Additionally there might have been more injections between '92 and '99. It seems SuSe had no trouble finding investors.
The deal itself is especially remarkable as SuSe seemed to be in financial trouble in 2001/2002. But anyway, it's pretty good to have a major exit in Germany to refer to :-)
Thanks for the info. It still seems mysterious if there was another round in winter 2000. Additionally there might have been more injections between '92 and '99. It seems SuSe had no trouble finding investors.
The deal itself is especially remarkable as SuSe seemed to be in financial trouble in 2001/2002. But anyway, it's pretty good to have a major exit in Germany to refer to :-)
Response from:
Heiko Hebig
(11/10/03 10:25am)
A good exit for investors. A less enthusiastic exit for employees?
See yourself:
http://www.suse.de/en/company/press/services/images/novell_suse/novell_susehttp://www.suse.de/en/company/press/services/images/novell_suse/novell
_suse_08.jpg">http://www.suse.de/en/company/press/services/images/nove
ll_suse/novell_suse
_08.jpg
See yourself:
http://www.suse.de/en/company/press/services/images/novell_suse/novell_suse
_suse_08.jpg">http://www.suse.de/en/company/press/services/images/nove
ll_suse/novell_suse
_08.jpg
Response from:
TJ
(11/10/03 10:42am)
Indeed Heiko, people on this picture look a bit too much down to the floor. It could be coincidence, but its not totally improbable that SuSe will see some layoffs.
But for everyone who might have to leave the working for SuSe will be a great track record. With such an experience it shouldn't be too difficult to find something new.
But for everyone who might have to leave the working for SuSe will be a great track record. With such an experience it shouldn't be too difficult to find something new.
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