On Friday, the cybersecurity company Darktrace announced that it has accepted a $5.3 billion takeover offer from Thoma Bravo, a US private equity firm.
This agreement underlines the recognition of the British group's outstanding competence in the field of artificial intelligence.
Thoma Bravo expressed an acquisition interest two years ago.
Read more: Darktrace AI: The cybersecurity revolutionary
"Darktrace is at the forefront of cybersecurity, and we have long admired their platform and their AI capabilities," said Andrew Almeida, partner at Thoma Bravo.
Innovation in cybersecurity is intensifying, facing global challenges cyber threats that are constantly evolving.
Poppy Gustafsson, CEO of Darktrace, stressed the importance of the Technology of the company in a world increasingly exposed to cyber-attacks enhanced by artificial intelligence.
Darktrace, based in the university town of Cambridge, near London, debuted on the London Stock Exchange in 2021.
The deal was announced on Friday, and calls for a cash purchase, valuing Darktrace's stock at $7.75, or $44% above the average price of share of the company over the last three months, as Thoma Bravo reports.
Following the announcement, the share price rose by 18% to 612 pence ($7.7).
"The acquisition by Thoma Bravo will provide Darktrace with a dynamic financial ally, which has significant experience in the field of Software. This is expected to significantly strengthen the company's position as a leading UK-based artificial intelligence business within the cyber space," said Gordon Hurst, president of Darktrace.
The companies are expected to close the deal in the second half of the year, subject to shareholder and regulatory approval.
Almeida pointed out that Thoma Bravo, having invested "exclusively in the software sector for over two decades", has the necessary "operational expertise and deep experience in cybersecurity to support the development of Darktrace".
See also: Darktrace AI: The cybersecurity revolutionary
Prior to Friday's announcement, Darktrace shares showed a strong rebound after EY's independent auditors confirmed that there were no irregularities in the company's accounts.
In explaining its decision to become a private company, Darktrace stated that "its operational and financial performance is not adequately reflected in the company's value in the equity market, as its shares trade at a significant discount compared to its peers in the global stock market".
The offer comes at the end of a week where the London Stock Exchange was driven to a frenzy by a series of takeovers, which helped lift the FTSE 100 index to record levels.
On Friday, British mining giant Anglo American rejected a huge $38.8 billion takeover offer from Australia's BHP, deeming it "highly unattractive" and "speculative".
Meanwhile, the battle for the takeover of the Hipgnosis Songs Fund, a UK music rights holder, took on a new dimension. US firm Concord has upped its offer, marginally outbidding a previous bid from Blackstone.
On Wednesday, Concord offered $1.5 billion to acquire Hipgnosis, the company with a roster that includes celebrities such as Justin Bieber, Shakira and Neil Young.
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This proposal goes beyond the original Offer 1.4 billion, followed by an even higher offer from US asset manager Blackstone.
Source: finance.yahoo.com
