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LAS VEGAS--(BUSINESS WIRE)-- #AWSreInvent--AWS RE:INVENT - New Relic, the Intelligent Observability Platform, announced it is connecting New Relic AI, its in-platform generative AI assistant, into Amazon Q Business, AWS' enterprise generative AI assistant for streamlining complex workflows. By connecting New Relic's Intelligent Observability Platform with Amazon Q Business, New Relic goes beyond a simple API data pull to provide deep, intelligent insights and recommendations. The collaboration integrates Amaz.
SAN FRANCISCO, June 11, 2024 (GLOBE NEWSWIRE) -- Mezmo, the leading telemetry data platform , today announced the addition of Lauren Nagel as vice president of product. With experience spanning high-growth startups to global leaders, she will lead Mezmo's innovative product team in evolving its market-disrupting telemetry pipeline solution that empowers customers to take control of their data.
Buyout firms Francisco Partners and TPG saved hundreds of millions of dollars in their $6.5 billion deal to buy New Relic by walking away from negotiations with the business software company in May and then returning two months later with a lower offer, people familiar with the matter said.
HMI Capital Management, L.P. (Trades, Portfolio), a San Francisco-based investment firm, has recently expanded its portfolio by acquiring an additional 3,079 shares of New Relic Inc ( NEWR , Financial).
New Relic shares took off on Monday after the software company announced it has agreed to be acquired by investment firms Francisco Partners and TPG for $87 per share in cash, valuing the company at approximately $6.5 billion. The company said in a statement that this purchase price represents a premium of about 26% to New Relic's 30-day volume weighted average closing price ending on July 28, 2023.
Shares of software firm New Relic (NYSE: NEWR ) drove significantly higher on Monday following the announcement of a private equity deal. According to Investor's Business Daily, Francisco Partners and TPG (NASDAQ: TPG ) jointly declared plans to acquire New Relic and take it private.
New Relic (NEWR) came out with quarterly earnings of $0.43 per share, beating the Zacks Consensus Estimate of $0.31 per share. This compares to loss of $0.26 per share a year ago.
New Relic, the San Francisco-based observability software company, has reached an agreement with private equity firms TPG and Francisco Partners to go private in a $6.5 billion all-cash deal.
The consortium offered $87 per share in an all-cash deal to take New Relic private on Monday.
Shares of New Relic Inc. NEWR, +1.44% shot up 12.8% in premarket trading Monday, after the “observability” platform for software engineers announced a deal to be acquired by investment firms Francisco Partners and TPG Inc. TPG, +0.91% in a deal valued at about $6.5 billion. Under terms of the deal, each New Relic share would be exchanged for $87 in cash, which represents a 17.5% premium to Friday's closing price of $74.05.
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