Shares in UK-based CyberTech Darktrace have soared by almost a fifth following rumours of a possible takeover by Thoma Bravo.
According to Security Week, the takeover could potentially worth several billion pounds and saw the Darktrace stock rally nearly 18%, valuing the company at more than £3.4bn.
This came after the company announced it was ‘in the early stages of discussions with Thoma Bravo’ to take it private under a cash offer.
However, Darktrace has had a rough time since the company began floating on the London stock market in April of last year.
A key issue was that surrounding Darktrace co-founder Mick Lynch, who was accused of inflating the value of software group Autonomy prior to its sale to US tech giant Hewlett Packard for $11.1bn back in 2011.
Security Week highlighted that back in May, Darktrace chief strategy officer Nicole Eagan was named in a British High Court ruling against Lynch.
Earlier this year, Darktrace launched its PREVENT product, which is an interconnected set of AI products that deliver proactive cybersecurity capability to help organisations preempt future cyberattacks.
It claims PREVENT is the third product area in Darktrace’s delivery of a Cyber AI Loop and the industry-first set of AI capabilities which work together autonomously to optimise an organisation’s state of security through a continuous feedback loop.
Copyright © 2022 RegTech Analyst
Copyright © 2018 RegTech Analyst
