UK cybersecurity firm Darktrace to be bought by US private equity firm
26 April 2024, 09:14
Thoma Bravo has agreed a cash deal worth more than £4 billion for the Cambridge-based company.
UK cybersecurity firm Darktrace is to be acquired by American private equity group Thoma Bravo in a deal worth 5.32 billion dollars (£4.25 billion), the companies have announced.
The cash deal consists of an agreed price of 7.75 dollars (620p) per share, a 44% premium on Darktrace’s average share price in the last three months, Thoma Bravo said.
Founded in 2013, Cambridge-based Darktrace is a cybersecurity firm best known for using artificial intelligence to scan for hacks and data leaks inside IT networks.
A prominent company in the UK tech landscape, it was among the firms represented at the AI Safety Summit at Bletchley Park in November, where world leaders and major tech firms met to discuss the potential threat of artificial intelligence.
Thoma Bravo had previously approached Darktrace about a possible acquisition in 2022, but talks at the time did not result in an offer.
The announcement comes after another UK-based cybersecurity firm, Egress, confirmed it had agreed a deal to be acquired by US security giant KnowBe4 for an undisclosed amount.
