Francisco Partners, TPG end talks to buy New Relic-sources

New Relic

26/05/2023 18:02

By Anirban Sen and Milana Vinn
       NEW YORK, May 26 (Reuters) - Private equity firms
Francisco Partners and TPG Inc  TPG.O  have ended talks to
acquire New Relic Inc  NEWR.N  after they failed to secure
enough debt financing to meet the business software company's
valuation expectations, people familiar with the matter said.
    New Relic has been having negotiations with potential
acquirers since last year, Reuters has reported, and it's
possible that deal talks resume some time in the future.
    The sources requested anonymity because the matter is
confidential. New Relic and Francisco Partners did not
immediately respond to requests for comment, while TPG declined
to comment.

 (Reporting by Anirban Sen and Milana Vinn in New York
Editing by Greg Roumeliotis)
 ((Greg.Roumeliotis@thomsonreuters.com; +1 646 223 6022; Reuters
Messaging: greg.roumeliotis.thomsonreuters.com@reuters.net))