Brussels, 25 October 2023
The European Commission has approved, under the EU Merger Regulation, the acquisition of joint control of New Relic, Inc. by TPG Inc. and Francisco Partners Management, L.P., all of the US.
The transaction relates primarily to the sector of IT operations management software.
The Commission concluded that the notified transaction would not raise competition concerns, given the companies’ limited market positions resulting from the proposed transaction. The notified transaction was examined under the simplified merger review procedure.
More information is available on the Commission’s competition website, in the public case register under the case number M.11259.
Source – EU Commission