Francisco Partners and TPG Acquire New Relic
November 2, 2023
Francisco Partners and TPG have agreed to acquire observability software provider New Relic for $87.00 per share in an all-cash transaction valuing the company at approximately $6.5 billion. The deal, approved by New Relic's board and supported by key shareholders, will take New Relic private to provide greater flexibility to continue its product transition and accelerate investment in its observability platform.
- Buyers
- Francisco Partners, TPG
- Targets
- New Relic
- Sellers
- New Relic stockholders, Lew Cirne, JANA Partners LLC, HMI Capital Management L.P.
- Industry
- Software
- Location
- California, United States
- Transaction Type
- Buyout
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