Darktrace to be Taken Private in $5.3 Billion Sale to Thoma Bravo

Darktrace to be Taken Private in $5.3 Billion Sale to Thoma Bravo

April 26, 2024 at 08:25AM

UK cybersecurity firm Darktrace has been acquired by private equity firm Thoma Bravo for approximately $5.32 million in cash. Founded in 2013, Darktrace offers AI-powered threat detection and response platforms for enterprise IT, email, and operational technology environments. The acquisition represents a 44.3% premium and aims to accelerate Darktrace’s global expansion in the cybersecurity market.

Key takeaways from the meeting notes are as follows:

– Darktace, a UK cybersecurity firm, has agreed to be acquired by private equity firm Thoma Bravo for approximately $5.32 million in cash.
– The acquisition represents a 44.3% premium to the volume-weighted average price per share for the three-month period ended April 25, 2024.
– The deal allows Thoma Bravo to increase its exposure to the large and growing cybersecurity market and invest in accelerating Darktrace’s development and global scaling.
– The acquisition represents an EV/Revenue multiple of 8.1 times and an EV/Adjusted EBITDA multiple of 34.2 times based on Darktrace Group’s revenue of $616 million and Adjusted EBITDA of $146 million for the twelve months ending December 31, 2023.

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