Darktrace, a global leader in cybersecurity AI, has announced the completion of its acquisition by leading software investment firm Thoma Bravo for $5.3 billion. The recommended cash acquisition was announced on 26 April 2024 and the Scheme of Arrangement has now become effective.
Sushant Arora, regional vice president ANZ said:
“The acquisition of Darktrace by Thoma Bravo represents a new chapter for Darktrace in ANZ, and at a pivotal moment in time for the intersection of AI and cybersecurity in Australia.
“Darktrace has been at the forefront of AI and cybersecurity for more than a decade, and we are hugely optimistic about what AI can and is doing to protect businesses and to drive progress. But the power of AI to both lower the entry barrier for cybercriminals and to drastically increase the sophistication and volume of attacks means getting policy right is more important than ever.
“The Australian Government is taking many important steps to safeguard our critical infrastructure, strategic minerals, supply chains, the public sector, and strategically important businesses.
“We need to remember that cybercrime has no geographical boundaries. To be effective, Australia’s AI and cybersecurity policies will need to work across disciplines and across jurisdictions.
“To address the rapidly evolving and interconnected nature of the cyber threat landscape requires a global outlook and collaborative approach to policy and governance.
“Darktrace remains a UK-headquartered global company. We are committed to collaborating with the business community and policy makers to create a robust cyber defence posture here in ANZ.”
Jill Popelka, CEO of Darktrace said:
“Thoma Bravo will be a hugely valuable partner as we pursue further scale and innovation for our next stage of growth. Darktrace’s position at the cutting edge of cybersecurity AI coupled with Thoma Bravo’s deep strategic and sector expertise will be a powerful combination.
“Protecting businesses and organisations with best-in-class AI-powered, proactive cybersecurity will remain at the absolute core of what we do.
“Together, we can take this even further, investing in our people to enhance our technical capabilities and delivering exceptional service and value for our customers.”
Seth Boro, managing partner at Thoma Bravo said:
“Darktrace holds a unique position at the forefront of cybersecurity technology. As one of the early adopters of AI, the value of its capabilities is evident to businesses, governments and society across the world.
“We are excited to work alongside Jill and the Darktrace team to build on their success, supporting their ambitions to protect the world from the most advanced cyber threats.”
