New Relic acquisition completed by Francisco Partners and TPG

(Updated - November 8, 2023 8:52 AM EST)

New Relic, the all-in-one observability platform for every engineer, announced that Francisco Partners and TPG have completed their all-cash acquisition of New Relic for $87.00 per share, representing an equity valuation of approximately $6.5 billion.

The acquisition agreement was previously disclosed on July 31, 2023, and approved by New Relic stockholders at a special meeting held on November 1, 2023. The transaction establishes New Relic as a private company with enhanced flexibility and resources to continue investing in its leading observability platform and meeting the data and efficiency needs of its customers.

New Relic’s common stock (NEWR) has ceased trading and is no longer listed on the New York Stock Exchange.

Advisors

Qatalyst Partners served as financial advisor to New Relic, and Latham & Watkins LLP acted as legal counsel.

Morgan Stanley & Co. LLC acted as lead financial advisor to Francisco Partners and TPG. Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, and Moelis & Company also advised the firms. Davis Polk & Wardwell LLP, Paul Hastings LLP, and Kirkland & Ellis LLP acted as legal counsel to Francisco Partners and TPG.

Freshfields Bruckhaus Deringer US LLP acted as legal counsel to Lew Cirne, Founder and Chairman of the New Relic Board (non-executive).

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