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Direct Investment  + M&As  |  May 18, 2023
Francisco Partners, TPG in Talks to Buy Software Provider New Relic
Joe Palmisano
By: Joe Palmisano

Francisco Partners, TPG in Talks to Buy Software Provider New Relic 

Private equity firms TPG and Francisco Partners are in discussion to buy software provider New Relic in a deal worth more than $5 billion, The Wall Street Journal reported. 

The deal would turn the publicly traded New Relic back into a private company, but it’s still possible negotiations won’t succeed. The appearance of additional suitors might also make it more difficult. 

Both Francisco Partners and TPG make sense as potential buyers of New Relic since they have a proven track record of acquiring publicly traded firms and reviving them.  

TPG controls $137 billion in assets and is well known for its investments in both technology and healthcare businesses. It recently announced its plans to buy Angelo Gordon in a deal worth $2.7 billion. 

Technology investment is Francisco Partners’ area of expertise. They announced their intentions to buy the software business Sumo Logic in February for about $1.7 billion. The company has a reputation for being a specialist in difficult carve-out transactions. 

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About Joe Palmisano

Joe Palmisano is editorial director of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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