Turunc, working with global counsel Travers Smith, has advised IT company Micro Focus on the USD 2.535 billion sale of SUSE, its open-source software business, to Swedish private equity group EQT Partners. Latham & Watkins and Milbank, Tweed, Hadley & McCloy advised the buyers on the acquisition.
According to the Micro Focus website, the company "helps organizations run and transform their business through four core areas of digital transformation: Enterprise DevOps, Hybrid IT Management, Predictive Analytics and Security, Risk & Governance. Driven by customer-centric innovation, our software provides the critical tools they need to build, operate, secure, and analyze the enterprise. By design, these tools bridge the gap between existing and emerging technologies—enabling faster innovation, with less risk, in the race to digital transformation."
Micro Focus describes SUSE as providing "reliable, software-defined infrastructure and application delivery solutions that give enterprises greater control and flexibility."
EQT has 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.
The Turunc team included Partner Kerem Turunc, Counsel Grace Maral Burnett, and Associates Gizem Gunel and Nilay Enkur.