2024-04-26 17:47:17
The British cyber-security company Darktrace passes to the control of the American private equity group, Thoma Bravo, for the amount of 5.315 billion dollars.
In the wake of the announcement, Darktrace shares jumped 17%. This development is considered a “defeat” for the London Stock Exchange (LSE), as CNBC comments, since when Darktrace was listed on the British stock exchange in 2021, it was a well-received IPO, which showed that new players from the technology sector are also entering at the LSE, dominated by representatives of the old economy, such as the oil and mining giants.
Darktrace investors will receive $7.57 in cash for each share they own.
Company profile and complaint
Darktrace in its announcement stressed that its board of directors believes that the company’s operational and financial “achievements” are not reflected in its stock market valuation, with the result that the shares are trading “at a significant discount.” That’s why it chose to go into private hands.
Darktrace, based in Cambridge, UK, specializes in AI-based cyber security for large companies and events. It has approximately 2,300 employees worldwide.
Thoma Bravo Group emphasized that it will increase its presence in the large and growing cyber security market with this investment.
The deal represents a 44.3% premium to Darktrace’s weighted average share price in the quarter to April 25.