Darktrace Share Price (DARK)

Litoum - were I invested here myself (I sold in 2023), then I too would probably hold on. Effectively c.£6 is now 'underwritten' by TB and another party 'might' yet come in. I don't personally think anyone else will get involved, but you can't really lose by holding, as you know that you will receive $7.70 (or c.£6). The exchange rate however, is very much worth keeping an eye on; especially for those with large holdings here. All the best to you and others, with the same conundrum to mull over here . . .🫡

Sheltie, I think your right. Everyone was looking through rose tinted glasses yesterday. Thanks for your reasoned and thoughtful insights regarding this stock. I could see it coming. I watch the trading carefully and could see this coming. I posted up a few days ago….the last time the share price was this high TB made an offer. I’m not selling. It’s worth more.

Not so very long ago, having rebuffed TB the first time, Poppy was saying"no, no, no, the London Stock Exchange and London is 100% the place for us". Now a complete 360 change of view! TB will be delighted (cash offers do have their perks for the acquirers!) shareholders in the main, will not be so happy. Pretty much the only PI winners here were those that sold very early on, when it spiked and those that bought in the last six months. Most others? A waste of time being invested here; as you could have made way more money elsewhere, over that same time period. DT has been a big disappointment let's face it, given the price that it floated at and now, where it has ended (c.£6, but depending on what happens with the exchange rate, maybe not even that much). This share just never got going . . .a dark day for Darktrace shareholders. 🤑

The offer not as high as CR888 was looking for when I looked last on 19th July 2023.

Tech investor Thoma Bravo agrees deal for London-listed firm

Price represents 44% premium to three-month average

Darktrace was backed by tech entrepreneur Mike Lynch

Darktrace shares jump 18%

LONDON, April 26 (Reuters) - Private equity firm Thoma Bravo agreed to buy Britain's Darktrace for $5.32 billion in cash on Friday, saying it would use its software expertise to drive growth at the Mike Lynch-backed cybersecurity company.

The agreed offer of $7.75, or around 620 pence, per share represents a 44% premium to Darktrace's three-month average share price, Thoma Bravo said.

Shares in the company, which have doubled over the last year, jumped 18% after the announcement to 608 pence.

Thoma Bravo partner Andrew Almeida said Darktrace was at the "very cutting edge" of cybersecurity.

"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," he said.

Founded in 2013 with the backing of entrepreneur Mike Lynch, Darktrace uses artificial intelligence to detect attacks and vulnerabilities inside IT networks.

Earlier in April it raised its forecasts for third time this year, reflecting demand as threats from digital attacks grows.

It listed at 250 pence in 2021.

Despite being the best performer among recent London listings, the stock has lagged U.S. peers, partly due to concerns about Lynch.

He is being tried on fraud charges in the United States over his former company Autonomy. He has denied the charges.

UNDERVALUED ON THE MARKET

Panmure Gordon analyst Harvey Robinson said the price did not reflect any significant synergies, and it could trigger interest from a trade buyer such as Palo Alto.

Thoma Bravo previously approached Darktrace in 2022 but talks did not result in an offer.

Darktrace's board rejected proposed offers from Thoma Bravo before agreeing the deal, according to the statement.

It believed its shares were undervalued and a cash offer offered certainty to investors, the statement said.

As well as commitments from Darktrace's board, Thoma Bravo said it had the backing of a KKR fund and Summit Partners. Combined they represent 14.4% of the shares.

The deal will require support from the holders of 75% of Darktrace's shares.

Thoma Bravo, which bought British software firm Sophos for $3.9 billion in 2020, said it intended to keep Darktrace headquartered in Britain.

Lynch, who has no longer has any role at Darktrace, owns 3.9% while his wife owns 2.9%, according to LSEG data.

Thoma Bravo was advised by Goldman Sachs and Darktrace was advised by Jefferies and Qatalyst Partners. (Reporting Paul Sandle in London and Yadarisa Shabong in Bengaluru and ; Editing by Mrigank Dhaniwala, Sarah Young and David Evans)

Sound man

/ good comments

How is the time line for a vote , and the last date another buyer can offer ?