Connect with us

Hi, what are you looking for?


Endpoint Security

Cyber Firm Darktrace Shares Surge on Possible Takeover

Shares in British cyber security firm Darktrace soared almost a fifth Tuesday, reflecting a possible takeover worth several billion pounds by a US private equity firm.

Shares in British cyber security firm Darktrace soared almost a fifth Tuesday, reflecting a possible takeover worth several billion pounds by a US private equity firm.

Darktrace stock rallied nearly 18 percent, valuing the group at more than £3.4 billion ($4.1 billion), after announcing it was “in the early stages of discussions with Thoma Bravo” to take it private under a cash offer.

AJ Bell financial analyst Danni Hewson noted that “Darktrace is in one of the hottest areas of the tech world, with demand for cyber security increasing amid concern over Russian cyber warfare linked to the conflict in Ukraine”.

But Darktrace has faced a rocky time since floating on the London stock market in April last year.

“The wild swings in the share price, while linked to instability in the tech space and wider markets, do suggest that UK investors have struggled to get to grips with this complex tech story,” said Hewson.

“The controversy surrounding its co-founder Mike Lynch hasn’t helped Darktrace, as he continues to fight extradition to the US on fraud charges,” she added.

Lynch has been accused of inflating the value of software group Autonomy prior to its sale to US tech giant Hewlett Packard for $11.1 billion in 2011. 

Advertisement. Scroll to continue reading.

In May, Darktrace chief strategy officer Nicole Eagan was named in a British High Court ruling against Lynch.

Written By

AFP 2023

Click to comment

Daily Briefing Newsletter

Subscribe to the SecurityWeek Email Briefing to stay informed on the latest threats, trends, and technology, along with insightful columns from industry experts.

SecurityWeek’s Threat Detection and Incident Response Summit brings together security practitioners from around the world to share war stories on breaches, APT attacks and threat intelligence.


Securityweek’s CISO Forum will address issues and challenges that are top of mind for today’s security leaders and what the future looks like as chief defenders of the enterprise.


Expert Insights

Related Content

Application Security

Cycode, a startup that provides solutions for protecting software source code, emerged from stealth mode on Tuesday with $4.6 million in seed funding.

CISO Strategy

SecurityWeek spoke with more than 300 cybersecurity experts to see what is bubbling beneath the surface, and examine how those evolving threats will present...

Management & Strategy

SecurityWeek examines how a layoff-induced influx of experienced professionals into the job seeker market is affecting or might affect, the skills gap and recruitment...

CISO Conversations

In this issue of CISO Conversations we talk to two CISOs about solving the CISO/CIO conflict by combining the roles under one person.

CISO Strategy

Security professionals understand the need for resilience in their company’s security posture, but often fail to build their own psychological resilience to stress.

Management & Strategy

Industry professionals comment on the recent disruption of the Hive ransomware operation and its hacking by law enforcement.

Management & Strategy

Tens of cybersecurity companies have announced cutting staff over the past year, in some cases significant portions of their global workforce.


Twenty-one cybersecurity-related M&A deals were announced in December 2022.