Private Equity Firm Thoma Bravo in Talks to Buy Cybersecurity Company Darktrace

By Nick Hedley

Chicago-based private equity firm Thoma Bravo has made a bid for London-listed cybersecurity company Darktrace, which has a market capitalization of £3.8 billion (US$ 4.5 billion) as of 19 August.

Darktrace said in a statement that it was in early-stage discussions with Thoma Bravo regarding a possible cash offer for all its shares. “Discussions are at a preliminary stage and there can be no certainty that any offer will be made, nor as to the terms of any such offer.”

Thoma Bravo has until September 12 to announce whether it will make a firm offer.

The private equity investor, which focuses mainly on software and technology companies, had $114 billion in assets under management at the end of March.

Darktrace, which uses artificial intelligence and machine learning to detect and take action against cyber threats, said it had received “a number of preliminary and conditional proposals.”

The company was founded in 2013 by British intelligence agencies and mathematicians from the University of Cambridge. It employs 2,000 people and has 7,400 customers.