Darktrace is a British defense and AI company that was bought by an American private equity firm called Thoma Bravo for more than $5 billion. Mike Lynch is one of the investors who helped start Darktrace. He is currently on trial in the US for theft and conspiracy.
That company said their technology was “cutting edge” and that their country didn’t value it enough. The Darktrace board says that the company’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.”
They said that Thoma Bravo’s deal would help the business grow in a safe and private way. A lot of businesses have left the London stock market before this one. Other businesses include Arm Holdings, which makes chips, and Flutter, which runs a gaming site.
The price of Darktrace has changed a lot over the years, but analysts say the business is still not as good as its rivals. In the deal, their shares were worth 620p each, while in London, they were only worth 250p each.
Poppy Gustafsson, CEO of Darktrace, said, “From our base in Cambridge, we are building a world-leading company using a unique form of artificial intelligence to work on the big problem of cybersecurity.”
“From our base in Cambridge, we are building a world-leading company using a unique form of artificial intelligence to solve the cyber challenge for society,” Gustafsson said.
Thoma Bravo is a big investor in defense and software around the world. He is based in Chicago.
