Luke Bidco, a newly formed subsidiary Thoma Bravo, has entered into an agreement to acquire the share capital of the British cybersecurity company Darktrace plc. This is reported in the Darktrace press release.
The transaction value is $5.32 billion ($7.75 per share, which is 44.3% higher than the closing price on April 25).
The transfer of Darktrace to private ownership is seen as a serious loss for the London Stock Exchange, which is often characterized as less attractive to technology companies compared to the United States and Asian exchanges with a wide presence of mining and oil and gas companies.
Darktrace cites undervaluation on the London Stock Exchange as the reason for the sale of shares, since the shares are traded at a significant discount compared to other companies.
The deal is aimed at expanding its presence Thoma Bravo in the cybersecurity market and further development of the innovative Darktrace strategy.
The transaction is expected to be completed in the third or fourth quarter of 2024, subject to approval from shareholders and regulatory authorities. Jefferies and Qatalyst Partners acts as an advisor to Darktrace.
Darktrace is a British cybersecurity company. Darktrace specializes in protecting large companies from cloud attacks based on artificial intelligence. The headquarters is located in Cambridge (England). The company employs 9400 customers.
Thoma Bravo is a private investment company in the field of software and technology. The headquarters is located in Chicago (Illinois). The company has assets worth more than $138 billion.
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