Thoma Bravo, a PE giant, has agreed to acquire UK cybersecurity firm Darktrace in a monumental deal valued at approximately $5.3 billion.
According to Security Week, this move signifies Thoma Bravo’s strategic intent to deepen its presence in the expansive cybersecurity market and foster the global expansion of Darktrace’s innovative threat detection and response platform.
Darktrace, founded in 2013 by senior members of the UK’s GCHQ and other intelligence agencies, is renowned for its AI-powered threat detection and response platform tailored for enterprise IT environments, email systems, and operational technology (OT) environments. With over 2,300 employees and a vast clientele of approximately 9,400 customers, Darktrace stands as a prominent player in the cybersecurity domain.
The acquisition, announced on Friday, represents a substantial 44.3% premium to the volume-weighted average price per share for the three-month period ended April 25, 2024, marking a significant valuation of Darktrace’s business. Thoma Bravo, in its statement, expressed confidence in Darktrace’s potential, emphasizing its commitment to invest and propel Darktrace’s global expansion and operational scaling.
“Thoma Bravo believes that the acquisition of Darktrace represents an attractive opportunity to increase its exposure to the large and growing cybersecurity market, and to invest to accelerate Darktrace’s continued development and further scale the business globally,” the private equity firm said in a statement.
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