Cybersecurity Firm Darktrace Agrees To $5 Bn Takeover

Cybersecurity player Darktrace has reportedly accepted a USD 5.3 billion acquisition bid from Thoma Bravo, a US private equity firm that was looking to take over the British group for the last two years, according to an AFP report on Saturday.

Thoma Bravo proposed its bid in cash at USD 7.75 per Darktrace share by a 44 per cent premium on the group's average share price in the last three months, the report mentioned.

Following the acquisition news, the share price of the cybersecurity firm surged by 18 per cent to USD 7.7.

Both companies are expecting to complete the deal in the second half of the year, the report added.

In a statement, Thoma Bravo’s Partner Andrew Almeida said, “We have long been admirers of Darktrace’s cutting-edge technology in cybersecurity space.” 

Almeida emphasised that the equity firm is confident about Darktrace AI capabilities. Additionally, he underlined that cyber threats which are sophisticated and complex are growing on a global level, accelerating innovation in the cybersecurity space.

Established in 2013, Darktrace is a British cybersecurity company, headquartered in Cambridge, England, employing over 2,300 people around the world.