Business
TPG, Francisco Partners to take software firm New Relic private in $6.5 billion deal
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New Relic said on Monday that private equity firms TPG and Francisco Partners will take the software company private in a $6.5 billion all-cash deal.
The company’s cloud-based software allows websites and mobile apps to track user interactions and monitor servers and databases.
The private equity firms offered New Relic shareholders $87 per share, representing a premium of 17.5 per cent to the stock’s closing price on Friday.
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