Exclusive: Francisco Partners, TPG end talks to buy New Relic
Summary
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 and could not meet the business software companys valuation expectations, people familiar with the matter said. The demise of the deal negotiations underscores the challenges facing private equity firms seeking to put together leveraged buyouts. New Relic has been negotiating with potential acquirers since last year, Reuters has reported, and its possible that deal talks resume some time in the future, the sources added. After starting with Reuters in Bangalore in 2009, Anirban left in 2013 to work as a technology deals reporter in several leading business news outlets in India, including The Economic Times and Mint. Anirban rejoined Reuters in 2019 as Editor in Charge, Finance to lead a team of reporters, covering everything from investment banking to venture capital.
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