Recent Quotes View Full List My Watchlist Create Watchlist Indicators DJI Nasdaq Composite SPX Gold Crude Oil Hydroworld Market Index Markets Stocks ETFs Tools Overview News Currencies International Treasuries Francisco Partners Completes Acquisition of Sumo Logic By: Sumo Logic, Inc. via GlobeNewswire May 12, 2023 at 09:40 AM EDT REDWOOD CITY, Calif., May 12, 2023 (GLOBE NEWSWIRE) -- Sumo Logic, the SaaS analytics platform to enable reliable and secure cloud-native applications, today announced that Francisco Partners, a leading global investment firm that specializes in partnering with technology businesses, has completed its acquisition of the company. Pursuant to the terms of the definitive agreement announced on February 9, 2023, Francisco Partners has acquired all outstanding shares of Sumo Logic common stock for $12.05 per share in cash, valuing the company at an aggregate equity valuation of approximately $1.7 billion. As a result of the completion of the transaction, Sumo Logic’s common stock has ceased trading and is no longer listed on the NASDAQ stock exchange. Advisors Morgan Stanley & Co. LLC served as sole financial advisor to Sumo Logic, and Wilson Sonsini Goodrich & Rosati, Professional Corporation served as legal counsel. RBC Capital Markets served as sole financial advisor to Francisco Partners, and Kirkland & Ellis LLP served as legal counsel. About Sumo Logic Sumo Logic, Inc. empowers the people who power modern, digital business. Through its SaaS analytics platform, Sumo Logic enables customers to deliver reliable and secure cloud-native applications. The Sumo Logic Continuous Intelligence Platform™ helps practitioners and developers ensure application reliability, secure and protect against modern security threats, and gain insights into their cloud infrastructures. Customers around the world rely on Sumo Logic to get powerful real-time analytics and insights across observability and security solutions for their cloud-native applications. For more information, visit www.sumologic.com. About Francisco Partners Francisco Partners is a leading global investment firm that specializes in partnering with technology businesses. Since its launch over 20 years ago, Francisco Partners has invested in over 400 technology companies, making it one of the most active and longstanding investors in the technology industry. With approximately $45 billion in capital raised to date, the firm invests in opportunities where its deep sectoral knowledge and operational expertise can help companies realize their full potential. For more information on Francisco Partners, please visit www.franciscopartners.com. Media Contacts: Sumo Logic Carmen HarrisSumo Logiccharris@sumologic.com(650) 414-1584 Scott Bisang / Dan Moore / Clayton ErwinJoele Frank, Wilkinson Brimmer Katcher(212) 355-4449 Francisco Partners Whit Clay / Sarah Braunsteinwclay@sloanepr.com / sbraunstein@sloanepr.com Data & News supplied by www.cloudquote.io Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. By accessing this page, you agree to the following Privacy Policy and Terms and Conditions.
Francisco Partners Completes Acquisition of Sumo Logic By: Sumo Logic, Inc. via GlobeNewswire May 12, 2023 at 09:40 AM EDT REDWOOD CITY, Calif., May 12, 2023 (GLOBE NEWSWIRE) -- Sumo Logic, the SaaS analytics platform to enable reliable and secure cloud-native applications, today announced that Francisco Partners, a leading global investment firm that specializes in partnering with technology businesses, has completed its acquisition of the company. Pursuant to the terms of the definitive agreement announced on February 9, 2023, Francisco Partners has acquired all outstanding shares of Sumo Logic common stock for $12.05 per share in cash, valuing the company at an aggregate equity valuation of approximately $1.7 billion. As a result of the completion of the transaction, Sumo Logic’s common stock has ceased trading and is no longer listed on the NASDAQ stock exchange. Advisors Morgan Stanley & Co. LLC served as sole financial advisor to Sumo Logic, and Wilson Sonsini Goodrich & Rosati, Professional Corporation served as legal counsel. RBC Capital Markets served as sole financial advisor to Francisco Partners, and Kirkland & Ellis LLP served as legal counsel. About Sumo Logic Sumo Logic, Inc. empowers the people who power modern, digital business. Through its SaaS analytics platform, Sumo Logic enables customers to deliver reliable and secure cloud-native applications. The Sumo Logic Continuous Intelligence Platform™ helps practitioners and developers ensure application reliability, secure and protect against modern security threats, and gain insights into their cloud infrastructures. Customers around the world rely on Sumo Logic to get powerful real-time analytics and insights across observability and security solutions for their cloud-native applications. For more information, visit www.sumologic.com. About Francisco Partners Francisco Partners is a leading global investment firm that specializes in partnering with technology businesses. Since its launch over 20 years ago, Francisco Partners has invested in over 400 technology companies, making it one of the most active and longstanding investors in the technology industry. With approximately $45 billion in capital raised to date, the firm invests in opportunities where its deep sectoral knowledge and operational expertise can help companies realize their full potential. For more information on Francisco Partners, please visit www.franciscopartners.com. Media Contacts: Sumo Logic Carmen HarrisSumo Logiccharris@sumologic.com(650) 414-1584 Scott Bisang / Dan Moore / Clayton ErwinJoele Frank, Wilkinson Brimmer Katcher(212) 355-4449 Francisco Partners Whit Clay / Sarah Braunsteinwclay@sloanepr.com / sbraunstein@sloanepr.com
REDWOOD CITY, Calif., May 12, 2023 (GLOBE NEWSWIRE) -- Sumo Logic, the SaaS analytics platform to enable reliable and secure cloud-native applications, today announced that Francisco Partners, a leading global investment firm that specializes in partnering with technology businesses, has completed its acquisition of the company. Pursuant to the terms of the definitive agreement announced on February 9, 2023, Francisco Partners has acquired all outstanding shares of Sumo Logic common stock for $12.05 per share in cash, valuing the company at an aggregate equity valuation of approximately $1.7 billion. As a result of the completion of the transaction, Sumo Logic’s common stock has ceased trading and is no longer listed on the NASDAQ stock exchange. Advisors Morgan Stanley & Co. LLC served as sole financial advisor to Sumo Logic, and Wilson Sonsini Goodrich & Rosati, Professional Corporation served as legal counsel. RBC Capital Markets served as sole financial advisor to Francisco Partners, and Kirkland & Ellis LLP served as legal counsel. About Sumo Logic Sumo Logic, Inc. empowers the people who power modern, digital business. Through its SaaS analytics platform, Sumo Logic enables customers to deliver reliable and secure cloud-native applications. The Sumo Logic Continuous Intelligence Platform™ helps practitioners and developers ensure application reliability, secure and protect against modern security threats, and gain insights into their cloud infrastructures. Customers around the world rely on Sumo Logic to get powerful real-time analytics and insights across observability and security solutions for their cloud-native applications. For more information, visit www.sumologic.com. About Francisco Partners Francisco Partners is a leading global investment firm that specializes in partnering with technology businesses. Since its launch over 20 years ago, Francisco Partners has invested in over 400 technology companies, making it one of the most active and longstanding investors in the technology industry. With approximately $45 billion in capital raised to date, the firm invests in opportunities where its deep sectoral knowledge and operational expertise can help companies realize their full potential. For more information on Francisco Partners, please visit www.franciscopartners.com. Media Contacts: Sumo Logic Carmen HarrisSumo Logiccharris@sumologic.com(650) 414-1584 Scott Bisang / Dan Moore / Clayton ErwinJoele Frank, Wilkinson Brimmer Katcher(212) 355-4449 Francisco Partners Whit Clay / Sarah Braunsteinwclay@sloanepr.com / sbraunstein@sloanepr.com