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 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.
About Sumo Logic
Sumo Logic, Inc. envisions a world where trusted agents and AI-ready telemetry detect and resolve problems before any human is aware. Our market-leading platform transforms telemetry into trusted, AI-ready data that fuels agents to autonomously detect, investigate, and resolve issues. Thousands of organizations around the world rely on Sumo Logic as the trusted data platform and agentic workforce they need to strengthen security, improve reliability and performance, lower TCO, and generate sharper business insights. For more information, visit www.sumologic.com or start a free trial today at www.sumologic.com/sign-up.
Any information regarding offerings, updates, functionality, or other modifications, including release dates, is subject to change without notice. The development, release, and timing of any offering, update, functionality, or modification described herein remains at the sole discretion of Sumo Logic and should not be relied upon in making a purchase decision, nor as a representation, warranty, or commitment to deliver specific offerings, updates, functionalities, or modifications in the future.
Media Contact
Rich Mullikin, Mullikin Communications
rich@mullikincommunications.com
About Sumo Logic
Sumo Logic, Inc. helps make the digital world secure, fast, and reliable by unifying critical security and operational data through its intelligent platform. Built to address the increasing complexity of modern cybersecurity and cloud operations challenges, we empower digital teams to move from reaction to readiness—combining agentic AI-powered SIEM and log analytics into a single platform to detect, investigate, and resolve modern challenges. Customers around the world rely on Sumo Logic for trusted insights to protect against security threats, ensure reliability, and gain powerful insights into their digital environments. For more information, visit www.sumologic.com.
Any information regarding offerings, updates, functionality, or other modifications, including release dates, is subject to change without notice. The development, release, and timing of any offering, update, functionality, or modification described herein remains at the sole discretion of Sumo Logic and should not be relied upon in making a purchase decision, nor as a representation, warranty, or commitment to deliver specific offerings, updates, functionalities, or modifications in the future.
Media Contact
Melissa Beck, Sumo Logic
mbeck@sumologic.com
