AdAstra Invests EURO 4.4 Million in SUSE Linux
Investors Regard SUSE Linux as a Well-Established Company and Worthy Investment
February 14, 2002
Today, SUSE Linux, the international Open Source technology leader and solution provider, announced that the venture capital company AdAstra Erste Beteiligungsgesellschaft mbH, Munich, Germany, invests EUR 4.4 million in SUSE Linux AG.
SUSE is the leading provider of complete solutions based on Linux, the Open Source operating system. Large enterprises benefit from SUSE deep project knowledge in terms of design and implementation of individual IT structures. For the IT infrastructure of small and medium-scale enterprises, SUSE offers cost-efficient, easy-to-administer standard solutions such as the SUSE Linux eMail Server and SUSE Linux Firewall. Private customers appreciate the multiple-award winner SUSE Linux due to its ease of use and the variety of applications it comprises. SUSEs comprehensive range of products and services is based on the unique know-how of the world's largest development team for Open Source solutions.
Solid Basis for Long-Term Profitability and Ongoing Growth
During the past months, SUSE Linux AG restructured its internal organization into four target-group-oriented Business Units, which handle the various customer segments according to their specific needs. "In the IT world, SUSE Linux AG is renowned for its highly innovative products and services. With the new organizational structure, SUSE has established an optimum base for handling the various requirements of the individual customer segments, thus being able to participate overproportionately in the rapidly growing Linux market," commented Hans-Christian Perle, Ph.D., AdAstra, on the investment decision.
"The new management exceeded our expectations. Despite a generally difficult environment, SUSE Linux AG was able to increase its total turnover by about 50% to EUR 40 million during last year. The former technology start-up SUSE successfully transformed into a reliable and auspicious enterprise," added Tillmann Lauk, Ph.D., CEO of the lead investor, e-millennium 1.
e-millennium 1 incorporates investors such as Deutsche Bank, SAP, Accenture, and other renowned international enterprises. "The new investor structure enables SUSE Linux AG to fully exploit its potential. We are fully convinced that SUSE and Linux are looking towards a bright future, especially in the server and enterprise computing sectors. Additionally, SUSE has made a name as an innovative technology provider. Partners such as IBM, Intel, Compaq, and AMD rely on the engineering feats of the SuSE developers," said Amnon Harman, responsible Investment Manager at e-millennium 1.
"Today's investment underscores the leading position of SUSE in the international Linux market," said Johannes Nussbickel, CFO of SuSE Linux AG. "In addition, it shows that decision makers in global enterprises regard Linux as a well-established economic factor."
AdAstra Erste Beteiligungs GmbH, Munich, Germany, is a privately held venture capital company with commitments amounting to EUR 100 million. The company's investment focus is on technology-oriented, fast growing companies in the IT, telecommunications, media, life sciences, and high-tech sectors. The Munich-based HypoVereinsbank AG is AdAstra's lead investor.
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