A new relic is being considered for sale

Francisco Partners and TPG, two private-equity firms, are reportedly collaborating on a bid exceeding $5 billion ($7.5 billion) to acquire New Relic, a software company. According to sources familiar with the matter, a deal could be finalized within the next few weeks, although there is a possibility that the negotiations may not succeed or other interested parties may emerge. In July, Reuters initially reported that New Relic, a US business software company based in San Francisco, was considering a potential sale due to interest from private equity firms. New Relic develops cloud-based software that enables website and application owners to monitor the performance of their services. The company was founded in 2008 and became publicly traded in 2014. As of now, there has been no immediate response from New Relic or TPG to Reuters’ request for comment, while Francisco Partners has declined to provide a statement.