UK cybersecurity powerhouse, Darktrace, is set to be bought by American private equity giant Thoma Bravo in a £4.25billion deal, according to an announcement from the companies.
The cash transaction involves an agreed price of 620p per share, representing a 44% premium on Darktrace's average share price over the past three months, as stated by Thoma Bravo. Established in 2013 and headquartered in Cambridge, Darktrace has made its name in the cybersecurity world through its innovative use of artificial intelligence to detect hacks and data breaches within IT networks.
A key player in the UK tech scene, it was among the companies present at the AI Safety Summit at Bletchley Park last November, where global leaders and major tech corporations convened to discuss the potential dangers posed by artificial intelligence. Thoma Bravo had previously expressed interest in acquiring Darktrace in 2022, but discussions at that time did not culminate in a formal offer.
The deal follows UK-based cybersecurity firm, Egress, confirming its agreement to be bought out by US security titan KnowBe4 for an undisclosed sum. London-based Egress is known for its AI-powered email security tools, which are able to learn and monitor sophisticated email cybersecurity threats, and protect organisations and their staff from email-based attempts to breach their systems.