Jana Partners is known for pushing for a sale of the companies it takes a stake in, according to the report. The potential takeover comes after New Relic announced in June that it appointed Kevin Galligan, a partner of Jana Partners, as part of a cooperation agreement. The firm also reported 14,800 customer accounts in its most recent quarter, down from 15,400 in June 2020. Though, its loss widened to $229 million from $171 million with its shares losing half of their value since November 2021. New Relic reported revenue of $786 million in its fiscal year 2022, an increase of 18 percent year over year. The program’s goal is to help partners reach beyond reselling to providing services around New Relic software. In June it launched the New Relic Partner Stack program, replacing the former New Relic Partner Network, which provides partners with more training and accreditation programs, sales tools and resources, marketing campaigns and additional personnel support. The San Francisco-based software company was founded in 2008 and listed on the sNew York Stock Exchange in 2014. New Relic shares were $62.59 per share Thursday morning, up more than 20 percent over the last five days. Suppiger added that a strategic acquirer may be less likely, though companies like IBM or Oracle would be logical as an acquiring company. JMP Solutions is an Industrial Technology Partner to Fortune 1000 manufacturers and producers providing engineering services and turnkey solutions in seven core areas: process automation, control system integration, information and MES, automation and robotics systems, automated guided vehicles, material handling, and networking and security applications. “We believe the discount is justified by New Relic’s slower growth and depressed margins and see shares as fairly valued,” wrote Erik Suppiger, a JMP Securities analyst. The company may be worth $60 to $80 per share, according to Wall Street analysts, following the news of a potential takeover. New Relic stock increased slightly to $61.80 per share Thursday with a total market cap of $4.16 billion. ![]() JMP is driven by the mission to ensure the safety and protection of civil and business. When reached by CRN, a New Relic spokesperson said that the company was “unable to provide comment on this story since New Relic does not comment on rumors or speculation.” JMP SEURITY SOLUTIONS is a 100 black-owned company that was founded on the premise of providing expert security services to communities, cities, and private properties and organizations in ensuring the safety of their assets, belongings, people’s lives. While no deal is certain, New Relic is looking to hire financial advisors, according to Reuters, which cited sources familiar with the matter. Observability software developer New Relic is eyeing a potential sale of the company after garnering interest from private equity firms, Reuters reported Wednesday.
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