New Relic Signs Definitive Agreement to Establish Japanese Joint Venture with Japan Cloud
New Relic, Inc. (NYSE:NEWR), provider of real-time insights for software-driven businesses, today announced it has signed a definitive agreement to establish a new joint venture in Tokyo, Japan, known as New Relic K.K.. The joint venture will enable New Relic to meet the demands of the growing number of companies in Japan that are looking to solve business-critical issues around mastering the complexity of modern software.
Japanese businesses are increasingly embracing the cloud for the scale and agility necessary to compete in the digital era. According to Gartner, public cloud services end-user spending in Japan will increase to $9.7 billion in 2022 (1). New Relic helps companies accelerate their adoption of the public cloud by dramatically reducing the risk of migrating production applications to the cloud.
New Relic currently serves global customers such as Airbnb, Citrix, Condé Nast, Github, Japan Taxi, Major League Baseball, Norwegian Cruise Line, Pivotal, Rakuten, Sansan, and Trek Bikes.
New Relic K.K. will be a joint venture between New Relic, Inc. and Japan Cloud. Japan Cloud partners with leading U.S. software businesses to succeed in the Japanese market. The founders at Japan Cloud have led successful Japan joint ventures for Salesforce, Concur, Marketo, Kyriba and Demandware, as well as the launch of Oracle Japan.
“New Relic is honored to have seen early success supporting innovative companies across Japan with their critical digital initiatives,” said Lew Cirne, CEO and founder, New Relic. “Japan Cloud’s deep experience growing enterprise SaaS businesses in the region will help us accelerate our momentum in this exciting market.”
"We are extremely excited to partner with New Relic, a leader for providing real-time performance insights and helping businesses innovate faster,” said Aruna Basnayake, CEO, Japan Cloud. “With our proven experience and New Relic’s best-in-class technology, we believe that New Relic will have great success in Japan and provide businesses with critical solutions in the age of digital transformation.”
This press release contains “forward-looking” statements, as that term is defined under the federal securities laws, including but not limited to statements regarding New Relic’s presence in Japan, including its establishment of a joint venture with Japan Cloud and the benefits and success of the potential joint venture, such as its ability to help organizations in the Japanese market. The achievement or success of the matters covered by such forward-looking statements are based on New Relic’s current assumptions, expectations, and beliefs and are subject to substantial risks, uncertainties, assumptions, and changes in circumstances that may cause New Relic’s actual results, performance, or achievements to differ materially from those expressed or implied in any forward-looking statement. Further information on factors that could affect New Relic’s financial and other results and the forward-looking statements in this press release is included in the filings we make with the SEC from time to time, including in New Relic’s most recent Form 10-K, particularly under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations.” Copies of these documents may be obtained by visiting New Relic’s Investor Relations website at http://ir.newrelic.com or the SEC's website at www.sec.gov. New Relic assumes no obligation and does not intend to update these forward-looking statements, except as required by law.
About Japan Cloud
Japan Cloud partners with leading U.S. software businesses to succeed in the Japanese market. The founders at Japan Cloud have led successful Japan joint ventures for Salesforce, Concur, Marketo, Kyriba and Demandware, as well as the launch of Oracle Japan. Learn more at japancloud.co.jp.
1 - Gartner, Forecast: Public Cloud Services, Worldwide, 2016-2022, 2Q18 Update, Published 31 July 2018 - ID G00343437
About New Relic
The world’s best engineering teams rely on New Relic to visualize, analyze, and troubleshoot their software. New Relic One is the most powerful cloud-based observability platform built to help organizations create more perfect software. Learn why developers trust New Relic for improved uptime and performance, greater scale and efficiency, and accelerated time to market at newrelic.com.
New Relic is a registered trademark of New Relic, Inc.All product and company names herein may be trademarks of their registered owners.