Cybersecurity: Darktrace to be sold to Thoma Bravo for $5.31B

The acquisition comes after Darktrace rejected previous offers

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British cybersecurity company Darktrace has agreed to be acquired by U.S. private equity firm Thoma Bravo in an all-cash transaction valued at $5.315 billion.

Here are a few key points:

• Under the deal, Darktrace shareholders will receive $7.75 per share, which is a 44.3% premium over the average share price for the last three months.

• The acquisition decision comes after Darktrace rejected previous offers from Thoma Bravo, which the company felt undervalued its achievements and market potential.

• Since its 2021 listing on the London Stock Exchange, Darktrace has been a highlight in a market typically dominated by traditional industries.

• However, the company has expressed concerns about being undervalued in the U.K. market compared to its global peers.

• The move to go private is seen as a significant loss for the London market.

• Darktrace, founded in 2013 and based in Cambridge, specializes in AI-driven cybersecurity solutions and employs about 2,300 people globally.

• This acquisition is part of Thoma Bravo's strategy to increase its presence in the expanding cybersecurity market and to help Darktrace scale its operations worldwide.

• The decision also comes in the wake of challenges faced by Darktrace, including a short-selling attack and distancing itself from its co-founder Mike Lynch, who is facing fraud charges in the U.S.