We are advising Francisco Partners and TPG on the acquisition

Davis Polk is advising Francisco Partners and TPG on their $6.5 billion acquisition of New Relic. 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 Relic’s shareholders.

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 long-standing investors in the technology industry.

TPG is a leading global alternative asset management firm, founded in San Francisco in 1992, with $137 billion of assets under management and investment and operational teams around the world. TPG invests across five multi-strategy platforms: capital, growth, impact, real estate and market solutions. Its unique strategy is driven by collaboration, innovation and inclusion.

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 a unified data platform that empowers engineers to get all telemetry – metrics, events, logs and traces – paired with powerful full stack analysis tools to help engineers do their best work with data, not opinions.

The Davis Polk corporate team includes partners Oliver Smith and Darren M. Schweiger and associate Alex Yang. Partner Pritesh P. Shah and associate S. Dream Montgomery are providing intellectual property advice. Partner Adam Kaminsky and associate Elizabeth Smith are providing executive compensation advice. Partner David H. Schnabel and counsel Aliza Slansky are providing tax advice. Members of the Davis Polk team are based in the New York and Washington DC offices.