Second time lucky for Thoma Bravo, which scoops up Darktrace for $5.3B

Thoma Bravo has acquired UK-based cybersecurity firm Darktrace for $5.3 billion, taking it private at $7.75 per share (a 44% premium), following a previously abandoned 2022 bid and after EY dismissed prior short-seller fraud allegations. The deal underscores Thoma Bravo’s continued expansion in cybersecurity and Darktrace’s AI-driven capabilities, while prompting Darktrace’s exit from the London Stock Exchange amid criticism that UK tech valuations lag peers; analysts view the move as further weakening the UK’s public tech scene. The article also notes Darktrace’s historic ties to Mike Lynch, who is currently on trial over allegations related to Autonomy.