New Relic in talks to be sold
Private-equity firms Francisco Partners and TPG are working together on a more than US$5 billion ($7.5 billion) bid to acquire software company New Relic, the Wall Street Journal reported, citing people familiar with the matter.
A deal could be reached in the next few weeks, the report said, adding it’s possible the talks could fall apart and other suitors could still emerge.
Reuters had first reported in July that the US business software company was preparing to explore a potential sale following interest from private equity firms.
The San Francisco-based company develops cloud-based software to help websites and application owners track the performance of their services.
Founded in 2008, the company was listed in the stock market in 2014.
New Relic and TPG did not immediately respond to a Reuters request for comment, while Francisco Partners declined to comment.