Cybersecurity Company Darktrace Agrees to A $5 Billion Acquisition

Cybersecurity Company Darktrace Agrees to A $5 Billion Acquisition


British cybersecurity company Darktrace agreed to be acquired by American private equity firm Thoma Bravo for $5.3 billion. Thoma Bravo has been interested in Darktrace for two years and is impressed by its artificial intelligence technology, which is especially important in today’s complex cyber threat landscape. Darktrace’s CEO believes their technology is crucial for defence against AI-powered cyberattacks.

Darktrace, founded in 2013 and headquartered near London, became a public company on the London Stock Exchange in 2021. The all-cash deal values Darktrace shares at $7.75, a significant premium over the average price in the past three months.

Thoma Bravo has experience in the software sector and hopes to help Darktrace grow as a leading cyber AI company in the UK. The deal is expected to close in the second half of 2024, pending approval from shareholders and regulators.

Also Read | Seqrite and M. Tech Solutions Collaborate to Enhance Cybersecurity in India

This acquisition follows a period of strong performance for Darktrace, whose stock price had previously been undervalued. This takeover is part of a larger trend of increased mergers and acquisitions in the London stock market.