Connect with us

Hi, what are you looking for?

SecurityWeekSecurityWeek

Endpoint Security

Darktrace Share Price Crashes as Takeover Pulled

Shares in cybersecurity company Darktrace crashed 30 percent Thursday after US private equity firm Thoma Bravo ended its takeover interest in the British group.

In a statement to the London Stock Exchange, Darktrace said “discussions with Thoma Bravo have terminated”.

Shares in cybersecurity company Darktrace crashed 30 percent Thursday after US private equity firm Thoma Bravo ended its takeover interest in the British group.

In a statement to the London Stock Exchange, Darktrace said “discussions with Thoma Bravo have terminated”.

Darktrace went on to plunge 31 percent in value to 355 pence a share.

Its share price has experienced wild swings since floating on the London stock market in April last year.

It soared by around one-fifth in August on expectation of Bravo’s takeover worth several billion pounds.

But its shares have been hit also as co-founder Mike Lynch fights extradition to the US on fraud charges.

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.

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

Advertisement. Scroll to continue reading.

She had been chief marketing officer at Autonomy when Lynch sold it to HP.

Written By

AFP 2023

Click to comment

Trending

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.

Join the session as we discuss the challenges and best practices for cybersecurity leaders managing cloud identities.

Register

SecurityWeek’s Ransomware Resilience and Recovery Summit helps businesses to plan, prepare, and recover from a ransomware incident.

Register

Expert Insights

Related Content

Endpoint Security

Today, on January 10, 2023, Windows 7 Extended Security Updates (ESU) and Windows 8.1 have reached their end of support dates.

Application Security

Virtualization technology giant VMware on Tuesday shipped urgent updates to fix a trio of security problems in multiple software products, including a virtual machine...

Endpoint Security

Gigabyte has announced BIOS updates that remove a recently identified backdoor feature in hundreds of its motherboards.

Endpoint Security

Several major companies have published advisories in response to the Downfall vulnerability affecting Intel CPUs.

Application Security

Microsoft on Tuesday pushed a major Windows update to address a security feature bypass already exploited in global ransomware attacks.The operating system update, released...

CISO Strategy

Varied viewpoints as related security concepts take on similar traits create substantial confusion among security teams trying to evaluate and purchase security technologies.

Endpoint Security

The Zero Day Dilemma

Endpoint Security

When establishing visibility and security controls across endpoints, security professionals need to understand that each endpoint bears some or all responsibility for its own...