SuSE Linux announces new financing round

Open-source software maker SuSE Linux AG has received a financial shot in the arm, announcing Monday a new round of investment worth 15 million euros (US$14 million).

"SuSE stands on solid financial footing," said spokesman Christian Egle.

Most of the new financing comes from e-millennium 1, a venture capital and private equity company that focuses its attention on Europe and whose investors include Accenture Ltd., Deutsche Bank AG, and SAP AG, Egle said. The firm has already taken two seats on SuSE's board of directors.

Questions about the company's future have circled since August, when President and Chief Technology Officer (CTO) Dirk Hohndel stepped down, just a month after Chief Executive Officer (CEO) Roland Dyroff was replaced.

SuSE will continue restructuring, cutting around 120 jobs from its workforce of 500 by the end of the year, Egle said.

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