Tag: exit
$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.