New Relic agrees to go private in $6.5B all-cash deal

New Relic, the San Francisco-based observability software company, has reached an agreement with private equity firms TPG and Francisco Partners to go private in a $6.5 billion all-cash deal.
As reported by CNBC, TPG and Francisco Partners were able to salvage a deal that initially fell through months ago after securing enough debt financing to meet New Relic’s desired valuation. Major shareholders, including CEO Lew Cirne and activist hedge fund Jana Partners, have signed off.
Under the terms of the agreement, New Relic will have a 45-day “go-shop” period during which it can

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