British cybersecurity firm Darktrace introduced on Friday that it has agreed to an all-cash acquisition by U.S. non-public fairness agency Thoma Bravo for $5.31 million.
Following the announcement, Darktrace shares surged greater than 17% in London buying and selling.
Underneath the deal, buyers will obtain $7.75 in money for every share held, as really helpful by the corporate’s board.
The choice to go non-public marks a big blow for the London Inventory Trade, the place Darktrace was listed in 2021.
The corporate had been thought of a vibrant addition to a market usually seen as much less engaging to tech companies in comparison with these within the U.S. or Asia, and dominated by conventional industries like mining and oil and fuel.
Darktrace cited its notion of being undervalued within the U.Ok. as a key motive for the sale. Its board believes the corporate’s operational and monetary “achievements” are usually not pretty mirrored in its valuation, including that its inventory is buying and selling “at a big low cost to its international peer group.”
In the meantime, Thoma Bravo stated that the takeover would assist it develop its publicity to the massive and quickly increasing cybersecurity market and that its funding would help in scaling Darktrace’s operations globally.
The acquisition worth gives a 44.3% premium over Darktrace’s common volume-weighted share worth for the three months main as much as April 25, per the discharge.
