© Reuters. A screen announces the listing of private-equity firm TPG, during the IPO at the Nasdaq Market site in Times Square in New York City, U.S., January 13, 2022. REUTERS/Brendan McDermid
By Anirban Sen and Milana Vinn
NEW YORK (Reuters) – Private equity firms Francisco Partners and TPG Inc have ended talks to acquire New Relic (NYSE:) Inc after they failed to secure enough debt financing to meet the business software company’s valuation expectations, people familiar with the matter said.
New Relic has been having negotiations with potential acquirers since last year, Reuters has reported, and it’s possible that deal talks resume some time in the future.
The sources requested anonymity because the matter is confidential. New Relic and Francisco Partners did not immediately respond to requests for comment, while TPG declined to comment.
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