Adrian Johnson
TLDR:
Thoma Bravo has agreed to acquire Darktrace, an AI-powered cybersecurity vendor, for $5.32 billion. This acquisition will take Darktrace private and support its growth journey. Darktrace’s board believes that its achievements have not been reflected in its valuation, thus prompting this move.
Article Summary:
Thoma Bravo, a private equity firm, is set to acquire Darktrace for $5.32 billion, allowing the AI-focused cybersecurity vendor to join a portfolio that includes several security industry companies. Darktrace CEO Poppy Gustafsson expressed excitement for the deal, stating it will enable the next stage of the company’s growth journey. Darktrace, founded in 2013, has been a pioneer in using AI/ML for cyberattack detection. The company went public in 2021 but is now undergoing privatization with Thoma Bravo due to price disagreements following initial acquisition talks.
The deal offers Darktrace shareholders a 20 percent premium over the closing price of shares, subject to shareholder approval. Thoma Bravo, known for acquiring cybersecurity vendors, sees Darktrace as a leader in cybersecurity technology. Darktrace’s self-learning AI technology spans detection, prevention, response, and remediation in various environments such as the cloud, applications, email, endpoints, and networks. The company even introduced a new product, Heal, using AI for cyber incident response.
