Cybersecurity firm Darktrace accepts $5 billion takeover

Cybersecurity firm Darktrace on Friday said it had accepted a $5.3-billion takeover bid from US private equity firm Thoma Bravo, which highlighted the British group's "capability in artificial intelligence".

The cash bid comes after Thoma Bravo expressed takeover interest two years ago for Darktrace.

"Darktrace is at the very cutting edge of cybersecurity technology, and we have long been admirers of its platform and capability in artificial intelligence," Thoma Bravo partner Andrew Almeida said in a statement.

"The pace of innovation in cybersecurity is accelerating in response to cyber threats that are simultaneously complex, global and sophisticated."

Darktrace chief executive Poppy Gustafsson said the group's "technology has never been more relevant in a world increasingly threatened by AI-powered cyberattacks".