Darktrace has accepted a takeover bid by American private equity firm, Thoma Bravo, for $5.32bn (£4.25bn).

The agreed offer is set at $7.75 (£6.19) per share, representing a 44% premium on Darktrace’s average share price over the past three months.

Darktrace is a British cybersecurity firm, founded in 2013, that received backing from entrepreneur, Mike Lynch.

It had previously been approached by the American firm in 2022, but no official offer was made.

Thoma Bravo said it believes that the deal represents "an attractive opportunity to increase its exposure to the large and growing cybersecurity market", while accelerating Darktrace’s "continued development and further scale the business globally".

The firm also described Darktrace as a "leader in cybersecurity artificial intelligence", enabling its 9,400 customers to identify, stop and respond to threats.

Reuters reported that shares at Darktrace, which have doubled in the past 12 months, increased by 18% following the announcement, taking them to 608 pence a share.

Partner at Thoma Bravo, Andrew Almeida, said: "Darktrace is at the very cutting edge of cybersecurity technology, and we have long been admirers of its platform and capability in artificial intelligence. The pace of innovation in cybersecurity is accelerating in response to cyber threats that are simultaneously complex, global and sophisticated.

"Darktrace is driven by a culture of innovation and we are excited by the opportunity to work alongside Darktrace's team and accelerate its development into a scaled, global leader, further strengthening its capability and offer to customers. Thoma Bravo has been investing exclusively in software for over twenty 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."

Chairman at Darktrace, Gordon Hurst, added: "The proposed offer represents an attractive premium and an opportunity for shareholders to receive the certainty of a cash consideration at a fair value for their shares.

"The proposed acquisition will provide Darktrace access to a strong financial partner in Thoma Bravo, with deep software sector expertise, who can enhance the Company's position as a best-in-class cyber AI business headquartered in the UK."

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