🧵 1/4: New Relic, a monitoring service, is being acquired by Francisco Partners and TPG for $6.5 billion in cash. Shares surged 13.5% on the news. #business
🧵 1/4: New Relic, a monitoring service, is being acquired by Francisco Partners and TPG for $6.5 billion in cash. Shares surged 13.5% on the news. #business
🧵 2/4: The deal offers insights into the current tech landscape's valuations. With the IPO climate being dry, this acquisition sheds light on the exit values.
🧵 3/4: New Relic's sale price of $87 per share values the company at less than 7 times its current run-rate revenue. Is this price justified or over the top?
🧵 4/4: In its latest quarterly results, New Relic reported revenue of $242.6 million, with consumption revenue increasing 39% and subscription revenue declining 54%.
🧵 Read more at: https://techcrunch.com/2023/07/31/new-relics-sale-analysis/