Darktrace Poppy Gustafsson Thoma Bravo Chief Executive Officer Computer Security Takeover

Darktrace to Be Acquired by Thoma Bravo in a £3.8 Billion Deal

Poppy Gustafsson to Step Down as Chief Executive Officer

Darktrace, a leading cybersecurity company, has agreed to be acquired by Thoma Bravo, a private equity firm, in a deal valued at £3.8 billion.

Under the terms of the deal, Thoma Bravo will acquire all of the outstanding shares of Darktrace for £4.65 per share. The transaction is expected to close in the second half of 2023, subject to regulatory approvals and other customary closing conditions.

Darktrace's co-founder and chief executive officer, Poppy Gustafsson, will step down from her role once the deal is completed. She will be replaced by Rick Wagner, a former executive at Symantec and RSA Security.

Key Points

* Darktrace to be acquired by Thoma Bravo for £3.8 billion * Poppy Gustafsson to step down as CEO * Rick Wagner to take over as CEO * Deal expected to close in second half of 2023

Background

Darktrace was founded in 2013 by Gustafsson and Dave Palmer. The company has developed a range of AI-powered cybersecurity products that help organizations detect and respond to threats in real time.

Thoma Bravo is a leading private equity firm that has invested in a number of technology companies, including McAfee and SolarWinds.

Analysis

The acquisition of Darktrace by Thoma Bravo is a significant development in the cybersecurity market. Darktrace is one of the leading players in the market, and its acquisition by Thoma Bravo will give the private equity firm a major presence in the sector.

The deal is also a reflection of the growing demand for cybersecurity solutions. As organizations become increasingly reliant on technology, they are also becoming more vulnerable to cyberattacks. Darktrace's AI-powered products can help organizations to detect and respond to threats in real time, which is essential for protecting their data and systems.

Conclusion

The acquisition of Darktrace by Thoma Bravo is a major development in the cybersecurity market. The deal will give Thoma Bravo a major presence in the sector, and it is a reflection of the growing demand for cybersecurity solutions.