SUSE, a company specializing in enterprise-level open-source solutions, has acquired NeuVector, a growing company specializing in full-lifecycle container security. The acquisition has a total value of $130 million, which comes from both SUSE’s cash balance and the distribution of over 695,000 new shares.
The acquisition of NeuVector will advance SUSE’s secure software value proposition and ensure a streamlined container security program for the company’s customers, the Nuremberg, Germany-based organization announced on Friday.
“The integration of NeuVector into SUSE Rancher will create an unbeatable enterprise container management security platform that delivers the end-to-end container security our customers are asking for,” said SUSE CEO Melissa Di Donato.
She also commented on customer demand for security in their cloud-native strategies and emphasized the complementary relationship between NeuVector and SUSE’s current product lineup.
Building on SUSE’s acquisition of Rancher, an open-source software developer, the company aims to incorporate NeuVector into its enterprise container management platform, SUSE Rancher. The company expects an extension of opportunities for cross-selling to its customers and an increase in revenue growth. SUSE also plans to focus on their go-to-market strategy with a goal of advancing company objectives.
In line with the ambitions discussed during SUSE’s recent IPO, the acquisition will expand the company’s reach in equity markets to support tuck-in acquisitions. The company will open-source the NeuVector platform, continuing its promise to supply interoperable solutions.
According to research conducted by S&P Global Market Intelligence, container security is recognized as an important factor in the establishment of cloud-native platforms at the corporate level, especially in industries dealing with secure information.
Fei Huang, co-founder of NeuVector, discussed the growing number of customers implementing zero-trust architecture and looking for solutions.
“Coupled with SUSE Rancher’s unique strength which offers full management of all Kubernetes distributions across any environment, our joint customers will also be able to secure the development of their containerized applications from core to cloud to edge environments,” said Huang.