Thoma Bravo to Buy Cybersecurity AI Firm Darktrace for $5.3B

PE Firm Tried to Take Darktrace Private in Summer 2022, But Couldn't Agree on Terms Michael Novinson (MichaelNovinson) • April 26, 2024

Private equity giant Thoma Bravo agreed to acquire Darktrace for $5.32 billion just 19 months after acquisition talks between the two sides fell apart.

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Chicago-based Thoma Bravo said its proposed purchase of the Cambridge, England-based cybersecurity AI vendor would accelerate Darktrace's organic growth and allow it to pursue acquisitions and leverage the private equity firms' operational best practices. The 620 pence per share ($7.75 per share) deal offers a 20% premium over Darktrace's Thursday closing price of 517 pence per share ($6.50 per share).

"Darktrace's operating and financial achievements have not been reflected commensurately in its valuation, with shares trading at a significant discount to its global peer group," the company wrote in a ...