Darktrace sold to Thoma Bravo in $5.3b cash deal, blow for LSE as tech firm departs market

LONDON – The British cybersecurity company Darktrace has announced its sale to U.S. private equity firm Thoma Bravo in an all-cash deal worth $5.315 million. This announcement comes as a significant setback for the London Stock Exchange, which welcomed DarkTrace as a much needed technological addition during last year’s initial public offering (IPO), against popular beliefs of being primarily made up of ‘old economy’ firms like mining and oil & gas companies. As per the recommended terms by its board, each shareholder will receive $7.75 in cash for their shares under this deal. We will update you shortly as further details emerge from this breaking news story. Darktrace’s stock price rose 17% at 10:26 a.m. London time when the announcement was made public.