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Latham & Watkins Advises New Relic in US$6.5 Billion Acquisition by Francisco Partners and TPG

July 31, 2023
Multidisciplinary team represents the all-in-one observability platform for engineers in take-private transaction.

New Relic (NYSE: NEWR), the all-in-one observability platform for every engineer, has announced that it has entered into a 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 US$87.00 per share in cash. The all-cash transaction values New Relic at an equity valuation of approximately US$6.5 billion.

Latham & Watkins LLP represents New Relic in the transaction with a corporate deal team led by Bay Area partners Tad Freese and Mark Bekheit, with associates Tessa Bernhardt, Andrew James, Kevin Schunk, Alec Hampton, Edwin Gonzalez, Jack DeMeulenaere, and Michelle Kim. Advice was also provided on SEC/disclosure matters by Bay Area partner Rick Kline, with associate Raul Gonzalez; on antitrust matters by Washington, D.C. partner Amanda Reeves and Bay Area partner Kelly Fayne, with associates Daniel Baker, Matthew Piehl, and Hanna Nunez Tse; on benefits and compensation matters by Bay Area partner Ashley Wagner, with associates Hyun Young (Julia) Lee and Rebecca Dixon; on intellectual property and privacy matters by Bay Area partner Michelle Ontiveros Gross, with associates Adriana Beach and Caroline Oluwayomi Omotayo; on tax matters by Bay Area partner Grace Lee, with associates Gregory Conyers and Rasha Suleiman; on securities matters by San Diego partner Colleen Smith, with associate Ryan Walsh; on finance matters by Los Angeles partners Mark Morris and Nathan Whitaker and Los Angeles counsel Jonathan Shih; on environmental matters by Los Angeles partner Joshua Marnitz; and on economic sanctions and export controls matters by Washington, D.C. counsel Andrew Galdes.