PRESS RELEASE: SUSE SA: SUSE acquires NeuVector to strengthen container security

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DGAP-News: SUSE SA / Keyword (s): Mergers & Acquisitions SUSE SA: SUSE acquires NeuVector to strengthen container security 2021-10-28 / 07:30 The issuer is solely responsible for the content of this announcement.

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SUSE acquires NeuVector to strengthen container security

Integration into SUSE Rancher will provide full lifecycle security in any critical environment

Luxembourg – October 28, 2021 – SUSE SA (“SUSE” or the “Company”), a world leader in innovative, reliable and professional-grade open source solutions, today announces the acquisition of NeuVector, Inc. (“NeuVector” ), a leader in full-lifecycle container security that delivers end-to-end security, from DevOps pipeline vulnerability protection to automated security and production compliance.

NeuVector was founded in 2015 by Fei Huang and Gary Duan. NeuVector is headquartered in San Jose, California, and serves all industries, including highly regulated industries such as financial services and the public sector.

Total consideration for the acquisition is $ 130 million, including $ 101 million in cash from SUSE’s existing cash balances and $ 29 million through the issuance of 695,853 new shares. Building on the successful integration of SUSE and Rancher, the company sees the same substantial cross-selling opportunities in SUSE’s customer base as it does with Rancher and expects the combined offering to improve customer conversion. SUSE’s sales pipeline and opens up new opportunities. NeuVector is an established and growing company that will immediately contribute to SUSE’s revenue growth. SUSE will invest in FY22 as part of the combined NeuVector and SUSE Rancher go-to-market proposal, with the expectation that this will lead to further acceleration in FY 23 and beyond.

S&P Global Market Intelligence Research Publication 451 ^[1] considers container security to be the most important factor in the adoption of cloud native platforms in the enterprise, especially in highly secure and regulated industries. SUSE intends to fully integrate NeuVector into SUSE Rancher, its enterprise container management platform, providing end-to-end container security covering the creation, deployment and execution of containerized applications in any critical environment. True to its commitment to providing open and interoperable solutions, SUSE will open source code for the NeuVector platform.

This acquisition aligns with the strategy and objectives communicated during SUSE’s recent IPO, which is to use access to the stock markets to fund complementary acquisitions, adding complementary technologies to create value for companies. SUSE customers and partners.

“Our customers have made it clear that security is critical to their cloud native strategy and digital transformation,” said Melissa Di Donato, CEO of SUSE. “With this acquisition, we are delivering on our promise to deliver the capabilities our customers need, whether organically or through acquisition. The integration of NeuVector into SUSE Rancher will create an unbeatable enterprise container management security platform that provides the end-to-end container security solution our customers demand. NeuVector, like Rancher, is highly complementary to existing SUSE products and extends our reach into high growth markets, capitalizing on the scale and reputation of SUSE’s business.

“It’s an exciting time to join SUSE, which has grown steadily in recent years,” said Fei Huang, co-founder of NeuVector. “We are seeing an increase in the number of customers using a zero trust model who see SUSE as the natural solution to help customers protect deployments and the pipeline. Coupled with the unique strength of SUSE Rancher which offers complete management of all Kubernetes distributions in any environment, our customers will also be able to secure the development of their containerized applications from basic environments to the cloud to peripheral environments. their critical applications and data. ”

Impact on the SUSE ecosystem

SUSE’s legacy lies in creating a secure and certified open source software infrastructure to enable its customers and partners to innovate everywhere. NeuVector has been a SUSE partner for several years, and NeuVector users can now deploy NeuVector through the SUSE Rancher Application Catalog.

NeuVector will further strengthen SUSE’s secure software value proposition for existing and new SUSE Rancher customers who will have access to a fully integrated container security solution, enabling them to protect deployments and the pipeline from malicious activity by attackers. This compliance-driven approach will also allow SUSE Rancher to continue to meet risk management requirements in regulated industries such as financial services, healthcare and government.

[ENDS]

About SUSE

SUSE is a global leader in innovative, reliable, enterprise-grade open source solutions that more than 60% of Fortune 500 companies rely on to power their critical workloads. We specialize in Enterprise Linux, Kubernetes Management and Edge solutions, and work with partners and communities to empower our customers to innovate everywhere – from the data center to the cloud, to the edge and beyond. SUSE puts “open” back into open source, giving customers the agility to meet the challenges of innovation today and the freedom to evolve their strategy and solutions tomorrow. The company employs around 2,000 people worldwide and is listed on the regulated market (Prime Standard) of the Frankfurt Stock Exchange. For more information, visit www.suse.com.

Forward-looking statements

All statements in this press release regarding the company’s future expectations, plans and prospects, including statements containing the words “objectives”, “targets”, “will”, “believes”, “anticipates” , “Plans”, “expects”, and similar expressions, may constitute forward-looking statements and should be read with caution. Actual results may differ materially from those shown in these forward-looking statements due to a variety of important factors, including the competitive landscape, the development of customer agreements, confidence in customer relationships, management of growth and acquisitions, the possibility of undetected software issues, the risks of impacts from the Covid-19 pandemic and economic downturns, pricing pressures and internet viability. In addition, all forward-looking statements included herein represent opinions as of the date of this press release and such opinions may change. The Company has no obligation to update its forward-looking statements. These forward-looking statements are subject to change and should not be taken as representing the views of the Company as of any date other than the date of this press release.

Copyright 2021 SUSE LLC. All rights reserved. SUSE and the SUSE logo are registered trademarks of SUSE LLC in the United States and other countries. All third party trademarks are the property of their respective owners.

^[1] The Enterprise Voice of 451 Research: DevOps, Security, AI and Cloud Native 2020

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2021-10-28 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. The issuer is solely responsible for the content of this advertisement. DGAP’s distribution services include regulatory announcements, financial / corporate news, and press releases. Archives on www.dgap.de

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Language:     English 
Company:      SUSE S.A. 
              26 A, Boulevard Royal 
              2449 Luxembourg 
              Luxemburg 
ISIN:         LU2333210958 
WKN:          SUSE5A 
Indices:      SDAX 
Listed:       Regulated Market in Frankfurt (Prime Standard); Luxembourg Stock Exchange 
EQS News ID:  1244147 
 
End of News   DGAP News Service 
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1244147 2021-10-28

Image link: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1244147&application_name=news

(END) Dow Jones Newswires

October 28, 2021 1:30 am ET (5:30 am GMT)


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