(AmericanProsperity.com) – A United States private equity company, Thoma Bravo, has bought Darktrace, a British-based cybersecurity and artificial intelligence company for over five billion dollars. Darktrace’s co-founding investor, named Mike Lynch, is currently on trial for fraud and conspiracy in the United States.
The company said that its technology was “cutting edge” and that it was being undervalued in their country. Its “operating and financial achievements have not been reflected commensurately in its valuation, with shares trading at a significant discount to its global peer group,” according to the Darktrace board.
They stated that the offer from Thoma Bravo was going to help the company grow in a stable and private setting. This is not the first company to move out of the London stock market. Other companies include chipmaker Arm Holdings, and the gambling company Flutter.
Darktrace has worked around its valuation over the years, but analysts have said that the company falls behind its competitors. The agreement had their shares valued at 620p per share compared to the valuation in London, which was 250p.
Darktrace’s chief executive, Poppy Gustafsson, said “From our base in Cambridge, we are building a world-leading company using a unique form of artificial intelligence to address the societal challenge of cybersecurity.”
Gustafsson continued, “From our base in Cambridge, we are building a world-leading company using a unique form of artificial intelligence to address the societal challenge of cybersecurity.”
Thoma Bravo is based in Chicago and has been one of the most substantial investors in cybersecurity and software in the world.
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