U.S private equity firm, Thoma Bravo, has put forth a $5.3 billion offer to acquire British AI cybersecurity company, Darktrace. This development, which saw unanimous approval from Darktrace's board, led to an approximately 16% increase in the company's share prices in the London market. With renowned companies such as Coca-Cola and Aston Martin among its clientele, Darktrace utilizes AI-driven solutions for safeguarding businesses from cyber threats.
As per Darktrace, Thoma Bravo's investment comes at a time when the market is largely fragmented and devoid of global players. Maintaining their position as a leading cybersecurity service requires Darktrace to consistently invest in technology and enhance their global presence to keep up with the evolving cyber threats.
Should the deal proceed, Darktrace shareholders stand to earn $7.75 per share, marking a 20% premium on the firm's closing price on April 25, the final business day preceding the announcement.
Thoma Bravo had previously made an unsuccessful bid to acquire Darktrace in 2022, following a disagreement over the sale terms. However, the demand for cybersecurity firms utilizing AI is surging, for example, Cisco Systems' recent acquisition of cybersecurity provider Splunk for $28 billion in March.