US Private Equity Firm Swoops in to Buy British Cybersecurity Star Darktrace
Quote from VATcal on 26/04/2024, 20:10In a move that could further shake up the London Stock Exchange, British cybersecurity company Darktrace has agreed to a £4.3 billion ($5.3 billion) takeover bid from US private equity giant Thoma Bravo.
The deal marks the second time Thoma Bravo has attempted to acquire Darktrace. Talks in 2022 fell through, but this time the American firm has secured the cybersecurity company with a tempting offer. Darktrace shareholders will receive £6.20 per share, a significant premium of 20% over the closing price on the day before the announcement.
This acquisition is seen as an attractive opportunity for Thoma Bravo to bolster its presence in the ever-growing cybersecurity sector. The Chicago-based firm already boasts investments in numerous software developers, including British business Sophos, which it acquired four years ago for £3 billion.
For Darktrace, the deal brings an end to its brief and occasionally turbulent time as a listed company. CEO Poppy Gustafsson believes the acquisition will provide the necessary support to "fuel the next stage in our growth journey."
Thoma Bravo is particularly interested in Darktrace's self-learning artificial intelligence, a technology that has positioned the British firm as a pioneer in the cybersecurity industry. The private equity firm is likely to leverage this expertise to further develop its cybersecurity portfolio.
However, the acquisition has reignited concerns about the dwindling number of high-profile British companies on the London Stock Exchange. Darktrace's departure follows a string of similar acquisitions in recent times, raising questions about the attractiveness of the UK market for major corporations.
In a move that could further shake up the London Stock Exchange, British cybersecurity company Darktrace has agreed to a £4.3 billion ($5.3 billion) takeover bid from US private equity giant Thoma Bravo.
The deal marks the second time Thoma Bravo has attempted to acquire Darktrace. Talks in 2022 fell through, but this time the American firm has secured the cybersecurity company with a tempting offer. Darktrace shareholders will receive £6.20 per share, a significant premium of 20% over the closing price on the day before the announcement.
This acquisition is seen as an attractive opportunity for Thoma Bravo to bolster its presence in the ever-growing cybersecurity sector. The Chicago-based firm already boasts investments in numerous software developers, including British business Sophos, which it acquired four years ago for £3 billion.
For Darktrace, the deal brings an end to its brief and occasionally turbulent time as a listed company. CEO Poppy Gustafsson believes the acquisition will provide the necessary support to "fuel the next stage in our growth journey."
Thoma Bravo is particularly interested in Darktrace's self-learning artificial intelligence, a technology that has positioned the British firm as a pioneer in the cybersecurity industry. The private equity firm is likely to leverage this expertise to further develop its cybersecurity portfolio.
However, the acquisition has reignited concerns about the dwindling number of high-profile British companies on the London Stock Exchange. Darktrace's departure follows a string of similar acquisitions in recent times, raising questions about the attractiveness of the UK market for major corporations.
