To offer 7.75 usd per Darktrace share in cash (Il Sole 24 Ore Radiocor) - New York, 26 Apr - US private equity firm Thoma Bravo said that its Luke Bidco investment vehicle reached an agreement to buy UK cybersecurity artificial intelligence company Darktrace valuing the company at 5.315 billion dollars on a fully diluted basis and with an enterprise value of approximately 4.992 billion.

The valuation is a multiple of approximately 34 times Darktrace's Adjusted EBITDA for the 12 months ended December 31, 2023 of 146 million dollars.

Luke Bidco is offering 7.75 dollars in cash for each Darktrace share, equivalent to 620 pence per share, a premium of 44.3% to the volume-weighted average price for the three-month period ended April 25, 2024, being the last business day before the date of the announcement and of 148.1% to the IPO price on April 30, 2021.

The Darktrace directors, who have been so advised by Jefferies and Qatalyst Partners as to the financial terms of the acquisition, consider the deal terms to be fair and reasonable and intend to unanimously recommend to its shareholders to vote in favor of the deal.

Bidco has received irrevocable undertakings in respect of a total of 100,868,636 Darktrace shares, or 14.4% of the existing issued ordinary share capital of Darktrace as at April 25,2024.

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(RADIOCOR) 26-04-24 09:33:34 (0222) 5 NNNN