Thoma Bravo Prevails in Acquiring Darktrace for $5.32 Billion

After a deal fell apart in September 2022, Thoma Bravo is finally acquiring Darktrace, the global provider of cybersecurity AI, for $5.32 billion.

Thoma Bravo reached an agreement with Darktrace's board of directors. The United Kingdom-based company’s stock trades on the London Stock Exchange, where it first listed in 2021.

Thoma Bravo will take Darktrace private.

During Thoma Bravo’s last acquisition attempt, Darktrace said “early stage discussions took place with Thoma Bravo about a possible offer for the company, but an agreement could not be reached on the terms of a firm offer.”

Thoma Bravo Looks to Accelerate Darktrace’s Development

“Darktrace is at the very cutting edge of cybersecurity technology, and we have long been admirers of its platform and capability in AI,” said Andrew Almeida, partner at Thoma Bravo. “The pace of innovation in cybersecurity is accelerating in response to cyber threats that are simultaneously complex, global and sophisticated. Darktrace is driven by a culture of innovation and we are excited by the opportunity to work alongside Darktrace’s team and accelerate its development into a scaled, global leader, further strengthening its capability and offer to customers. Thoma Bravo has been investing exclusively in software for over 20 years and we will bring to bear the full range of our platform, operational expertise and deep experience of cybersecurity in supporting Darktrace’s growth.”

Related:Darktrace No Longer Thoma Bravo Acquisition Target, Stock Plummets in Aftermath

Thoma Bravo's Andrew Almeida

Darktrace uses self-learning AI to neutralize cyber threats and automate responses to cyber incidents, leveraging its R&D expertise. The company says its technology continuously learns and updates its knowledge of an organization’s business data, and applies that understanding to help transform security operations to a state of proactive cyber resilience. 

Darktrace helps its 9,400 customers to identify, stop and respond to all known and unknown threats across all aspects of an organization’s cybersecurity tools.

Darktrace's Poppy Gustafsson

"I am immensely proud of our brilliant business and people,” Poppy Gustafsson, Darktrace’s CEO, said. “From our base in Cambridge, we are building a world-leading company using a unique form of AI to address the societal challenge of cybersecurity. This [proposal] represents the next stage in our growth journey and I am excited by the many opportunities we have ahead of us. Our technology has never been more relevant in a world increasingly threatened by AI-powered cyberattacks. In the face of this, we are expanding our product portfolio, entering new markets, and focused on delivering for our customers, partners and colleagues."

Other Thoma Bravo acquisitions include Everbridge, ForgeRock, Coupa Software and more.