New Relic Announces Completion of
Go-Shop Period
Hart-Scott-Rodino waiting period has expired
Acquisition by Francisco Partners and TPG remains on track to close late 2023 or early 2024
SAN FRANCISCO, September 14, 2023 New Relic (NYSE: NEWR), the all-in-one observability platform for every engineer, announced the completion of the 45-day go-shop period pursuant
to the terms of the previously announced definitive agreement to be acquired by Francisco Partners, a leading global investment firm that specializes in partnering with technology businesses, and TPG, a leading global alternative asset management
firm, for $87.00 per share in cash, representing an equity valuation of approximately $6.5 billion (the Transaction). The go-shop period concluded at 11:59 p.m. Pacific time on
September 13, 2023.
During the go-shop period, at the discretion of the Companys Board of
Directors, New Relic and representatives of Qatalyst Partners, financial advisor to the Company, actively solicited alternative acquisition proposals from 53 potentially interested strategic and financial parties. None of the 53 parties contacted by
New Relic submitted a competing acquisition proposal during the go-shop period.
The Transaction is
expected to close in late 2023 or early 2024, subject to the satisfaction of customary closing conditions and certain regulatory items, including the approval of New Relics shareholders and customary merger control clearances. The waiting
period for the Transaction under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 expired at 11:59 p.m. Eastern time on September 11, 2023. The Transaction is not subject to a financing condition. Upon completion of the Transaction, New
Relic common stock will no longer be listed on any public market.
About New Relic
As a leader in observability, New Relic empowers engineers with a data-driven approach to planning, building, deploying, and running great software. New Relic
delivers the only unified data platform that empowers engineers to get all telemetrymetrics, events, logs, and tracespaired with powerful full stack analysis tools to help engineers do their best work with data, not opinions. Delivered
through the industrys first usage-based consumption pricing thats intuitive and predictable, New Relic gives engineers more value for the money by helping improve planning cycle times, change failure rates, release frequency, and mean
time to resolution. This helps the worlds leading brands including adidas Runtastic, American Red Cross, Australia Post, Banco Inter, Chegg, GoTo Group, Ryanair, Sainsburys, Signify Health, TopGolf, and World Fuel Services (WFS) improve
uptime, reliability, and operational efficiency to deliver exceptional customer experiences that fuel innovation and growth. www.newrelic.com.
About Francisco Partners
Francisco Partners is a leading
global investment firm that specializes in partnering with technology and technology-enabled businesses. Since its launch over 20 years ago, Francisco Partners has invested in more than 400 technology companies, making it one of the most active and
longstanding investors in the technology industry. With approximately $45 billion in capital raised to date, the firm invests in opportunities where its deep sectoral knowledge and operational expertise can help companies realize their full
potential. For more information on Francisco Partners, please visit www.franciscopartners.com.