New Relic shares surge on deal to go private

New Relic

31/07/2023 14:41

** Shares of U.S.-based cloud software firm New Relic
 NEWR.N  up 13.4% at $83.99
    ** Says private equity firms TPG  TPG.O  and Francisco
Partners to take co private in $6.5 bln all-cash deal
    ** Firms offer New Relic shareholders $87 per share,
representing a premium of 17.5% to the stock's closing price on
Friday
    ** NEWR also reports qtrly rev of $242.6 mln, above avg
analysts' estimate of $239.2 mln - Refinitiv IBES
    ** Adj. profit for qtr is $0.43/shr above avg estimate of
$0.31/shr
    ** NEWR shares up 31.2% YTD

 (Reporting by Saikeerthi in Bengaluru)
 ((Saikeerthi@thomsonreuters.com;))