M&A Deal Summary

Francisco Partners and TPG Acquire New Relic

On July 31, 2023, private equity firms Francisco Partners and TPG acquired internet software and services company New Relic for 6.5B USD

Acquisition Highlights
  • This is Francisco Partners’ 26th and TPG’s 31st transaction in the Internet Software and Services sector.
  • This is Francisco Partners’ and TPG’s 10th largest (disclosed) transaction.
  • This is Francisco Partners’ 118th and TPG’s 269th transaction in the United States.
  • This is Francisco Partners’ 35th and TPG’s 85th transaction in California.

M&A Deal Summary
Date 2023-07-31
Target New Relic
Sector Internet Software and Services
Buyer(s) Francisco Partners
TPG
Deal Type Going Private
Deal Value 6.5B USD
Advisor(s) Freshfields Bruckhaus Deringer (Legal)

Target

New Relic

San Francisco, California, United States
Entrance to New Relic's San Francisco corporate headquarters.
Entrance to New Relic's San Francisco corporate headquarters.
New Relic is a SaaS provider focused on analytics services. New Relic was founded in 2007 and is based in San Francisco, California.

Search 200,388 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try For Free 7-Day Free Trial

Buyer(S) 2

Buyer

Francisco Partners

San Francisco, California, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1999
PE ASSETS 45.0B USD
Size Mega
Type Sector Focused
DESCRIPTION
Francisco Partners' headquarters in San Francisco, California.
Francisco Partners' headquarters in San Francisco, California.

Francisco Partners is a private equity firm focused exclusively on investments in technology and technology-enabled services. Specific areas of interest include semiconductors, capital equipment, electronics components, systems and manufacturing, IT services and business process outsourcing, communications, security and enterprise applications, and infrastructure software. Prospective investment situations include divisional buyouts, growth equity financings, acquisitions of private companies, sponsored mergers and acquisitions, and take-privates. Francisco Partners looks for opportunities where it can commit a minimum of $100 million per investment. Francisco Partners was formed in 1999 and is based in San Francisco, California.

DEAL STATS #
Overall 142 of 149
Sector (Internet Software and Services) 26 of 28
Type (Going Private) 15 of 16
State (California) 35 of 38
Country (United States) 118 of 124
Year (2023) 4 of 7
Size (of disclosed) 1 of 29
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-07-26 RBmedia

Landover, Maryland, United States

RBmedia is a provider in spoken audio content and digital media distribution technology that reaches millions of consumers – at home, in the car, and wherever their mobile devices take them. RBmedia produces exclusive titles and delivers the finest digital content and information – including audiobooks, educational courses, entertainment titles, and much more. RBmedia is based in Landover, Maryland.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-22 The Weather Company - Digital Assets

Atlanta, Georgia, United States

The Weather Company's digital consumer-facing offerings, The Weather Channel mobile and cloud-based digital properties including Weather.com, Weather Underground and Storm Radar, as well as its enterprise offerings for broadcast, media, aviation, advertising technology and data solutions for other emerging industries.

Buy -
Buyer

TPG

Fort Worth, Texas, United States

Investor Investor Investor Investor

Category Private Equity Firm
Founded 1992
PE ASSETS 137.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

TPG Capital is a global, mega-sized private investment firm that manages a family of funds focused on private equity, real estate, venture capital, public equity and debt investing. TPG invests in opportunities across a broad range of industries and geographies. TPG generally seeks to invest in established businesses that can benefit from the Firm's operational experience and connections. Industries of interest include consumer, retail, healthcare, industrials, digital media, natural resources, energy, real estate, technology, and software. TPG was formerly known as Texas Pacific Group and was originally established in 1992 by David Bonderman, James Coulter and William Price. The Firm is based in Forth Worth, Texas with additional offices in Europe, Asia, and Australia.

DEAL STATS #
Overall 411 of 421
Sector (Internet Software and Services) 31 of 31
Type (Going Private) 36 of 36
State (California) 85 of 85
Country (United States) 269 of 276
Year (2023) 6 of 8
Size (of disclosed) 10 of 105
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-07-19 NexTech

Tampa, Florida, United States

NexTech is a fully-integrated, specialty specific, certified EMR, practice management, and marketing software that covers a wide array of specialty practice needs. NexTech was founded in 1997 and is based in Tampa, Florida.

Buy $1.4B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-09-07 CAA

Los Angeles, California, United States

CAA is a talent and literary agency that represents the most creative and successful artists working in music, film, television, theatre, sports, and games, and provides a range of strategic marketing services to corporate clients. CAA was founded in 1975 and is based in Los Angeles, California.

Sell -
Mergr

Product

Company

Legal