Tag: darktrace
Rubrik listing underlines strength of cyber sector
The cyber sector has received another boost with the initial public offering (IPO) of shares in Microsoft-backed cloud-based cybersecurity firm Rubrik, valuing the company at around $6.5 billion. Last week also saw that US private equity (PE) firm Thoma Bravo is to take UK cybersecurity company Darktrace private in a deal valuing the firm at over $5 billion. Orders for Rubrik’s IPO were reported to be oversubscribed for 20 times the 23.5 million shares on offer, with half of the shares allocated to top institutional investors. This investor appetite for the cyber stock is being seen as a testimony to the robustness of the cybersecurity sector, as Rubrik posted operating losses of $307 million last year. But it is the company’s current growth curve that seems to have spurred on investors, with annual recurring revenues reported at $784 million as of the end of 2023, up 47% on the year before.
$5bn Darktrace deal to boost cyber sector
Private equity (PE) firm Thomas Bravo is to take UK cybersecurity company Darktrace private in a deal valuing the firm at over $5 billion. The US-based PE firm, which manages around $140 billion in assets, intends to use its US market experience to expand Darktrace’s worldwide operations. News of the deal comes hard on the heels of better-than-expected quarterly earnings from US tech giants Alphabet and Microsoft. Darktrace claims to be a global leader in cybersecurity artificial intelligence (AI), protecting over 9000 customers from ransomware, cloud, and software-as-a-service (SaaS) attacks. Its main research center is in Cambridge, UK, with a second research and development facility in the Hague, Netherlands. The firm holds over 145 patents and pending applications.
Russian Hackers Breach Microsoft’s Code Base – March 8th
Microsoft announced the cyber campaign by the Russian-state-sponsored 'Midnight Blizzard' hackers, resulting in the group stealing the tech giant's source code. The sophisticated 'Midnight Blizzard' campaign is said to be rooted in a grander scheme to gain unauthorized access to Microsoft's environment using the stolen source code.
August vacations pose QR code nightmare
A new summer craze is hitting the world of cybercrime – weaponized Quick Response (QR) codes. According to cybersecurity firm Darktrace, last month saw a marked increase in “Quishing” attacks.