M&A Deal Summary

Thoma Bravo Acquires Darktrace

On April 26, 2024, private equity firm Thoma Bravo acquired software company Darktrace for 5.0B USD

Acquisition Highlights
  • This is Thoma Bravo’s 58th transaction in the Software sector.
  • This is Thoma Bravo’s 8th largest (disclosed) transaction.
  • This is Thoma Bravo’s 3rd transaction in the United Kingdom.

M&A Deal Summary
Date 2024-04-26
Target Darktrace
Sector Software
Buyer(s) Thoma Bravo
Deal Type Going Private
Deal Value 5.0B USD

Target

Darktrace

Cambridge, United Kingdom
Darktrace is a provider of cyber defense software that helps enterprises and government bodies protect themselves against advanced attacks and data compromises from within the network. Darktrace's approach allows enterprises to protect their information and intellectual property from state sponsored, criminal groups or malicious employees whom are already inside the networks of every critical infrastructure company. Darktrace combines decades of government cyber threat expertise with world-leading University of Cambridge mathematicians, and software engineers who have experience deploying the largest, most sensitive software. Darktrace was incorporated in 2013 and is based in Cambridge, the United Kingdom.

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Buyer(S) 1

Buyer

Thoma Bravo

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1980
PE ASSETS 127.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Thoma Bravo is a private equity firm that primarily invests in or acquires US-based middle-market businesses. While Thoma Bravo will consider a variety of transaction situations, including take-privates, buyouts, carve-outs, recapitalizations, and growth equity financings, the Firm has a special interest in tech consolidation opportunities. Target companies generally have a history of profitability with EBITDA of at least $20 million. The Firm's equity commitment size range is $100 to $750 million. Sectors of interest include enterprise and infrastructure software, education, distribution, financial services and consumer goods/services. The Firm will not invest in new inventions or technologies, developmental products or services, start-ups, biotech, motion pictures, distressed businesses, oil/gas, or real estate. Thoma Bravo was formerly known as Thoma Cressey Bravo and before that Golder Thoma & Co. The Firm was originally formed in 1980 and is based in Chicago, Illinois.

DEAL STATS #
Overall 137 of 140
Sector (Software) 58 of 59
Type (Going Private) 39 of 39
Country (United Kingdom) 3 of 3
Year (2024) 2 of 5
Size (of disclosed) 8 of 47
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-02-05 Everbridge

Burlington, Massachusetts, United States

Everbridge offers web-based emergency and incident notification solutions for organizations to prepare and communicate during emergencies. Everbridge was founded in 2002 and is based in Burlington, Massachusetts.

Buy $1.5B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-05-20 Venafi

Salt Lake City, Utah, United States

Venafi is a cybersecurity software platform that monitors, protects, and remediates an enterprise’s keys and certificates, which are required for secure communication, commerce, and mobility. Venafi provides its Global 5000 enterprise customers the ability to orchestrate the complete life cycle of all machine identity types, including TLS/SSL and SSH keys, and code-signing certificates. Venafi was founded in 2000 and is based in Salt Lake City, Utah.

Sell $1.5B
Mergr

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