Based in the UK, Darktrace, through its ActiveAI Security Platform, offers a full lifecycle approach to cyber resilience, by autonomously identifying and responding to both known and unknown threats in progress across an organisation’s complete ecosystem

Thoma Bravo Darktrace

Darktrace to be acquired by Thoma Bravo in $5.3bn deal. (Credit: kiquebg from Pixabay)

Thoma Bravo has agreed to acquire cybersecurity artificial intelligence (AI) company Darktrace in an all-cash deal that values the latter at about $5.3bn.

According to the terms of the agreement, shareholders of Darktrace will receive $7.75 in cash for each of the shares they hold in the company.

Furthermore, the transaction represents an enterprise value of approximately $4.99bn.

Based in the UK, Darktrace utilises self-learning AI to neutralise cyber threats as well as to automate responses to cyber incidents. The firm is listed on the Main Market of the London Stock Exchange.

Besides, the publicly listed firm’s ActiveAI Security Platform offers a full lifecycle approach to cyber resilience.

The platform autonomously identifies and responds to both known and unknown threats in progress across an organisation’s complete ecosystem, covering email, endpoint, cloud, apps, network, and operational technology.

Darktrace chair Gordon Hurst said: “The proposed offer represents an attractive premium and an opportunity for shareholders to receive the certainty of a cash consideration at a fair value for their shares.

“The proposed acquisition will provide Darktrace access to a strong financial partner in Thoma Bravo, with deep software sector expertise, who can enhance the Company’s position as a best-in-class cyber AI business headquartered in the UK.”

The transaction is expected to support Darktrace, its clients, and the wider technology ecosystem by facilitating the development of better products and the firm’s cybersecurity capability.

Through the acquisition, Thoma Bravo also aims to expand its exposure to the large and growing cybersecurity market.

The software investment firm also intends to invest to expedite Darktrace’s continued development and further scale the business across the globe.

Thoma Bravo partner Andrew Almeida said: “Darktrace is driven by a culture of innovation and we are excited by the opportunity to work alongside Darktrace’s team and accelerate its development into a scaled, global leader, further strengthening its capability and offer to customers.

“Thoma Bravo has been investing exclusively in software for over twenty years and we will bring to bear the full range of our platform, operational expertise and deep experience of cybersecurity in supporting Darktrace’s growth.”

Subject to various conditions and regulatory approvals, the transaction is anticipated to be complete during Q3 or Q4 2024.