British cyber security firm Darktrace’s shares soared due to possible takeover
By MYBRANDBOOK
British cyber security firm Darktrace’s shares surged by a fifth, reflecting a possible takeover worth several billion pounds by a US private equity firm.
Darktrace stock rallied nearly 18 percent, valuing the group at more than £3.4 billion ($4.1 billion), after announcing it was "in the early stages of discussions with Thoma Bravo" to take it private under a cash offer.
"Darktrace is in one of the hottest areas of the tech world, with demand for cyber security increasing amid concern over Russian cyber warfare linked to the conflict in Ukraine," said AJ Bell financial analyst Danni Hewson.
Darktrace faced a tough time since floating on the London stock market in April last year.
"The wild swings in the share price, while linked to instability in the tech space and wider markets, do suggest that UK investors have struggled to get to grips with this complex tech story," said Hewson.
"The controversy surrounding its co-founder Mike Lynch hasn't helped Darktrace, as he continues to fight extradition to the US on fraud charges," she added.
Lynch has been accused of inflating the value of software group Autonomy prior to its sale to US tech giant Hewlett Packard for $11.1 billion in 2011.
In May, Darktrace Chief Strategy Officer Nicole Eagan was named in a British High Court ruling against Lynch.
Microsoft to build a new data centre to support Thailand's tec
Microsoft has revealed intentions to construct a regional data centre as w...
SAP launches cloud services to help Indian scaleups innovate m
SAP at SAP unveils now "GROW with SAP for Scaleups," a new cloud service d...
Denodo and Sonata form alliance to unlock data-to-value creati
Denodo and Sonata Information Technology India Limited (SITL) have annou...
Google Play Store will now let users download two apps simulta
Google Play Store now lets users download two apps simultaneously. While a...
DRUVA SOFTWARE PVT. LTD.
FINOLEX INDUSTRIES LTD.
FRESHWORKS TECHNOLOGIES PVT. LTD.
SECUREYE SERVICES PVT. LTD.
Technology Icons Of India 2023: Vijay Shekhar Sharma
Vijay Shekhar Sharma is an Indian technology entrepreneur and billiona...
Technology Icons Of India 2023: Debjani Ghosh
Debjani Ghosh is the first woman president of NASSCOM (the umbrella bo...
Technology Icons Of India 2023: Sandip Patel
Sandip Patel is the Managing Director, IBM India/South Asia. He is res...
BSE provides highly secure, efficient and transparent market for trading
BSE (formerly known as Bombay Stock Exchange Ltd.) is Asia's first & t...
NPCI leading India towards Digital payments
The National Payments Corporation of India (NPCI) is an initiative tak...
CERT-IN protecting the cyber security space of India
CERT-In serves in the area of cyber security threats like hacking and ...
Crayon Software Experts India Pvt Ltd
Crayon helps its customers build the commercial and technical foundati...
FORTUNE MARKETING PVT. LTD.
Delhi based Fortune Marketing, An ISO 9001:2008 company, distributes ...
SATCOM INFOTECH PVT. LTD.
Satcom Infotech Pvt. Ltd is a distribution houses in security in India...