Software-focused investment firm Thoma Bravo has reached an agreement with the board of directors at Darktrace, a UK specialist in cybersecurity artificial intelligence, to acquire the business in an all-cash $5.4bn deal.
The offer of of 620 pence per share represents a premium of 20% over Darktrace’s closing share price of 517 pence on the last trading day prior to the takeover announcement, and 148.1% to the IPO price of 250 pence per Darktrace share on 30 April 2021.
Darktrace, which is listed on the main market of the London Stock Exchange, specialises in self-learning artificial intelligence to neutralise cyber threats and automate responses to cyber incidents. According to a press statement, the company helps “9,400 customers to identify, stop and respond to all known and unknown threats, across all aspects of an organisation’s cybersecurity tools”.
Kirkland & Ellis International is acting as legal adviser, while Goldman Sachs International and Goldman Sachs & Co are acting as financial adviser to Bidco and Thoma Bravo.
