US private equity firm Thoma Bravo has agreed to acquire British cybersecurity firm Darktrace at a valuation of $5 billion (approximately $3.99 billion).
The company said it would leverage its software expertise to drive growth for the UK cybersecurity company.
“Thoma Bravo has invested exclusively in software for over 20 years, and we look forward to leveraging our platform, operational expertise, and deep cybersecurity experience to support Darktrace’s growth.” said Andrew Almeida, Partner at Bravo.
Almeida added that Darktrace is on the “cutting edge” of cybersecurity.
Darktrace specializes in using AI to detect threats and vulnerabilities inside IT networks, rather than putting up external barriers.
The company was founded in 2013 with the backing of technology entrepreneur Mike Lynch.
The news comes as the value of cybersecurity deals in the UK is set to peak in 2023, according to GlobalData's Deals Database.
Cybersecurity transaction value totaled $83.6 billion in 2023, a significant increase compared to 2022, when transaction value totaled $47 billion.
The value of cybersecurity deals peaked in 2020 with a total value of $64 billion. This is an increase compared to 2019, when the total transaction amount was only $12.4 billion.
A new cybersecurity report from GlobalData says AI-driven attacks mean the cybersecurity field faces “a difficult road ahead over the next two to three years.”
The report states that the cybersecurity market is expected to reach a value of $290 billion by 2027, but concerns about the potential of AI in both cybersecurity and cybercrime are having a major impact on the market. is emphasized. Companies seeking to adapt to new threats face the additional challenge of talent shortages.
The report also notes that cyber investments will account for 14% of total IT, operational technology, and automation budgets in 2024, up from 11% in 2023.
“Thoma Bravo to buy British cybersecurity company Darktrace for $5 billion” was originally created and published by Verdict, a brand owned by GlobalData.
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