Francisco Partners and TPG have agreed to buy software provider New Relic Inc. in a go-private deal that values the company at $6.5 billion.
Francisco Partners and TPG will pay $87 a share in cash for the San Francisco-based company — a premium of about 26% to its 30-day average closing price, according to a company statement issued Monday. New Relic will become a private company upon completion of the deal, which is expected by early 2024.
As part of the takeover terms, New Relic has the right to solicit other bids for 45 days.
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