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DARK Darktrace Plc

576.80
0.00 (0.00%)
15 Nov 2024 - Closed
Delayed by 15 minutes
Darktrace Investors - DARK

Darktrace Investors - DARK

Share Name Share Symbol Market Stock Type
Darktrace Plc DARK London Ordinary Share
  Price Change Price Change % Share Price Last Trade
0.00 0.00% 576.80 00:00:00
Open Price Low Price High Price Close Price Previous Close
576.80
more quote information »
Industry Sector
SOFTWARE & COMPUTER SERVICES

Top Investor Posts

Top Posts
Posted at 29/10/2024 20:13 by praipus
Still nothing from Interactive Investor "ii" what a bunch.... I hate them total...
Posted at 07/10/2024 19:31 by mike the mechanic
Interactive Investor sent a mail suggesting 10 working days after the completion date.
Let's see!
Posted at 01/10/2024 07:25 by apotheki
1 October 2024

RECOMMENDED CASH ACQUISITION

of

Darktrace plc

by

Luke Bidco Limited

(a newly-formed company indirectly wholly-owned by funds managed and/or advised by Thoma Bravo, L.P.)

to be implemented by means of a scheme of arrangement

under Part 26 of the Companies Act 2006

SCHEME OF ARRANGEMENT BECOMES EFFECTIVE

On 26 April 2024, the boards of directors of Luke Bidco Limited ("Bidco") and Darktrace plc ("Darktrace") announced that they had reached agreement on the terms and conditions of a recommended all cash acquisition by Bidco of the entire issued, and to be issued, ordinary share capital of Darktrace (the "Acquisition").

The Acquisition is being implemented by way of a Court-sanctioned scheme of arrangement under Part 26 of the Companies Act 2006 (the "Scheme"). The circular in relation to the Scheme was published or made available to Darktrace Shareholders on 23 May 2024 (the "Scheme Document"). Capitalised terms used but not defined in this announcement have the meaning given to them in the Scheme Document.

On 24 September 2024, Darktrace and Bidco announced that the Court had sanctioned the Scheme to implement the Acquisition.

Darktrace and Bidco are pleased to announce that the Court Order has been delivered to the Registrar of Companies today and, accordingly, the Scheme has now become Effective in accordance with its terms. Pursuant to the Scheme, the entire issued share capital of Darktrace is now owned by Bidco.

Settlement of Consideration

Under the terms of the Scheme, each Scheme Shareholder on the Darktrace register of members at the Scheme Record Time (6.00 p.m. on 30 September 2024) will be entitled to receive $7.75 for each Scheme Share held at the Scheme Record Time, subject to any valid Currency Election.

Scheme Shareholders who have made a valid Currency Election will receive their Consideration in GBP at the Average Market Exchange Rate obtained by Bidco through one or more market transactions over the coming one or more Business Days. Bidco will announce the Average Market Exchange Rate that it obtains and the GBP sterling amount per Scheme Share once such market transactions have taken place. Scheme Shareholders who have not made a valid Currency Election will receive their Consideration under the Scheme in US dollars.

Settlement of the Consideration to which each Scheme Shareholder is entitled will be effected by way of despatch of cheques or settlement via electronic transfer (for Scheme Shareholders holding Scheme Shares in certificated form) or through CREST (for Scheme Shareholders holding Scheme Shares in uncertificated form) as soon as practicable and in any event not later than 14 days after the Effective Date (15 October 2024).

Delisting of Darktrace Shares

Dealings in Darktrace Shares were suspended with effect from 8.00 a.m. today, 1 October 2024. Applications have been made to the Financial Conduct Authority and the London Stock Exchange in relation to the cancellation of the listing of Darktrace Shares on the equity shares (commercial companies) category of the Official List and the cancellation of the admission to trading of Darktrace Shares on the main market of the London Stock Exchange, which are each expected to take place at 8.00 a.m. tomorrow, 2 October 2024.

Upon the Scheme having become Effective, share certificates in respect of the Scheme Shares have ceased to be valid documents of title and entitlements to Scheme Shares held in uncertificated form in CREST are being cancelled.

As a result of this announcement, Darktrace is no longer in an "offer period" as defined in the Takeover Code and accordingly the dealing disclosure requirements previously notified to investors not longer apply.

Board Changes

As the Scheme has now become Effective, as of today's date all of the non-executive directors of Darktrace have tendered their resignation and stepped down from the Darktrace Board. Jill Popelka and Cathy Graham will remain as directors on the Darktrace Board.

All references to time in this announcement are to the time in London, United Kingdom.
Posted at 17/9/2024 08:16 by foreverbull
Darktrace set to leave London Stock Exchange at end of SeptemberDarktrace shares are set to stop trading publicly at the end of September, after the company set a timetable for its blockbuster private equity takeover to be completed.The private equity group Thoma Bravo struck an almost 5.31 billion dollar (£4.3 billion) deal to buy Darktrace in April.It marks one of the biggest take-private deals for a London-listed company in recent years, and will see Darktrace leave the FTSE 100 on October 1.The newly published timetable shows the last day of dealings in Darktrace shares to be September 30, giving investors just two weeks before the company leaves public markets.
Posted at 06/9/2024 06:45 by apotheki
Directorate Change

CEO Announcement

Poppy Gustafsson to step down as CEO of Darktrace; Jill Popelka appointed successor

Darktrace plc (DARK.L), a global leader in cybersecurity AI, announces Poppy Gustafsson will step down as Chief Executive Officer (CEO) with effect from today and Jill Popelka, Darktrace's current Chief Operating Officer (COO), has been appointed as her successor. Jill will assume the role of CEO and will also be appointed to the Darktrace Board of Directors with effect from today.

Jill has more than two decades of experience of driving operational best practices and maturing teams, systems and processes for fast-growing businesses. She previously held senior leadership roles at leading global technology businesses, including Accenture, Snap Inc and SAP SuccessFactors, one of the largest enterprise cloud businesses in the world, which she led as President. Jill joined Darktrace in January 2024 as a Non-Executive Director, before assuming her current role of COO at Darktrace on 1 June 2024.

Poppy Gustafsson, outgoing CEO of Darktrace, said: "Darktrace has been a huge part of my life and my identity for over a decade and I am immensely proud of everything we have achieved in that time. Together we have revolutionised the marketplace for cyber security and brought our AI-powered technology to almost 10,000 customers around the world, keeping them safe from cyber disruption.

This challenge has required tremendous personal and professional commitment from me. With the acquisition of Darktrace by Thoma Bravo nearing its completion and with us having identified an excellent successor in Jill, now is the right time to hand over the reins so Jill can lead Darktrace through its transition into private ownership and beyond. I am profoundly grateful to have had the privilege of leading such an exceptional team and I look forward to remaining engaged in this exciting next chapter of the business as a non-executive director after the transaction completes. I remain Darktrace's number one fan."

Gordon Hurst, Chairman of Darktrace, said: "Poppy is a remarkable leader who has grown and nurtured one of the UK's proudest technology success stories. Under Poppy's stewardship, the business has transformed from a promising collaboration of AI and intelligence experts to a high-growth global leader in cyber security. This has been reflected in the significant value Darktrace has created for its shareholders under Poppy's leadership since its IPO in 2021 and through the acquisition by Thoma Bravo, one of the world's leading investors in software businesses.

"Jill is a proven and highly regarded leader in global technology businesses who has contributed immensely to the Board and more recently in her role as COO. With Poppy stepping down, the Board has implemented its CEO succession plan and is delighted that Jill has accepted the role of CEO. She has the deep sector experience, people leadership skills and energy and passion to lead Darktrace into the next stage of its journey."

Jill Popelka, incoming CEO of Darktrace, said: "Poppy and the team have built something very special. The potential of Darktrace is enormous - our technology has never been more critical to organisations around the world and our AI-native capabilities position us at the forefront of the ever-changing cyber security market. We have an outstanding platform offering, a broad base of customers across the globe, and some of the most talented people working in technology, not least our remarkable R&D teams based in Cambridge and The Hague. I am excited to partner with the whole Darktrace team to take advantage of the many opportunities we have ahead of us as we embark on this next phase of our journey."

Andrew Almeida, Partner at Thoma Bravo, said: "We are fully supportive of Poppy and the Board's succession plan. Jill is the perfect leader to build on Poppy's tremendous legacy at Darktrace as it embarks on this next phase of its life given her immense experience of scaling and maturing fast-growing businesses. She cares deeply about people, about serving customers and about creating a company with a sense of mission and purpose at its core. We look forward to working with Jill and the wider team to help elevate Darktrace's place as the essential cybersecurity platform for the changing threat landscape."

The acquisition of Darktrace by Thoma Bravo continues to progress as anticipated. All antitrust and regulatory approvals have now been received, with the exception of one foreign regulatory approval, which is currently anticipated by 28 September 2024. Per the transaction timetable, Darktrace will seek the UK court's sanction of the transaction as soon as this final regulatory approval has been received, with the closing of the transaction expected shortly afterwards.

This announcement is made in accordance with the notification requirement in UKLR 6.4.6R and there are no other disclosures that need to be made under UKLR 6.4.8R relating to the appointment of Jill Popelka.
Posted at 23/8/2024 15:35 by apotheki
Mike Lynch ‘drove an unwavering focus in everything he did’, says Darktrace chief
The chief executive of Darktrace, Poppy Gustafsson, has paid tribute to Mike Lynch, the company’s founding investor, after his body was found after a tragic yacht accident off the coast of Sicily. Matthew Field reports:

“Without Mike, there would be no Darktrace, we owe him so much,” she said. “Mike drove an unwavering focus in everything he did. He was binary: there was no half Mike. His intelligence was, to me, what a galaxy is to a planet. That intelligence was intimidating.

“You do not build great businesses by being reasonable. Mike was demanding, relentless and expected the highest of standards. But there was a gentle side to him too... as a very young girl, my daughter was drawn to him, and I can remember Mike patiently walking around the garden with her as she explained in comprehensive detail the specifics of loom bands.

“The best advice I have ever received was from Mike. In fact, probably the top five best pieces of advice I have ever received were from Mike.”

The Darktrace executive had known Mr Lynch for many years, working alongside him at Autonomy before taking up a role leading the cyber security company he later launched in 2013, which is now worth £4bn.

In a post on LinkedIn, Ms Gustafsson also paid tribute to Stephen Chamberlain, the company’s former chief financial officer, after he was killed separately in a car accident last weekend.

Ms Gustafsson wrote of Mr Chamberlain: “He will be remembered for his friendship and his kindness. He was an open-hearted man with a generous soul. I will miss him desperately.”

Just weeks earlier, Mr Lynch and Mr Chamberlain had walked free from a US court room after being acquitted of fraud charges relating to their roles in the 2011 sale of Autonomy.

The Darktrace chief executive said: “So many brilliant people have died, with so much still left for them to do... At a time when both Mike and Steve were so recently acquitted, it feels too cruel. But also, such a relief to know that they died with the world knowing their innocence.
Posted at 18/7/2024 21:47 by foreverbull
True but unfortunately there are people like shadowfall and typical UK bearish investors who wouldn't have let DT share price grow
Posted at 09/5/2024 11:05 by koti4
Serious appointment at Device Authority backed by 10/11 (and TERN plc) who were seed investors in DARK, next IOT superstar in the making??

Device Authority, an award-winning and recognized global leader in Identity and Access Management (IAM) for Enterprise IoT ecosystems has appointed Richard Seward as Vice President of Product Management to drive forward the company’s growing portfolio of innovative products under its KeyScaler platform.

Seward has over 15 years’ experience in the field, from Product Manager for the Mobile Device Management program at Vodafone through to Product Manager in Search at Google as well as being VP Engineering at IOT platform EVRYTHNG which was acquired by Digimarc.

Seward has over 15 years’ experience in the field, from Product Manager for the Mobile Device Management program at Vodafone through to Product Manager in Search at Google, and platform Product Manager at Meta. Outside of this area, Seward has founded and led his own start-up and served as VP Engineering at IOT platform EVRYTHNG which was acquired by Digimarc.

His role at Device Authority will see him working with the company’s innovative KeyScaler Central, KeyScaler Edge and KeyScaler AI products, ensuring they evolve as safe, relevant and market leading products that satisfy real customer needs and are in demand . He will work closely with customers and strategic partners as well as with the company’s established Engineering and Product Marketing teams to define and deliver a product roadmap that continues to lead the industry in meeting market requirements.

Commenting on his appointment, Device Authority CEO Darron Antill said, “We have achieved great success with our existing product portfolio and they continue to be recognised by analysts, partners and customers alike as leading the way in tackling the emerging problems that are facing organizations wanting to capitalise on the benefits of connected devices and operations. As we continue to innovate, it is vital that our roadmap remains aligned to the market and our customers and having someone with such significant experience as Richard to take lead this strategy will be a significant benefit to our business.

“His role will work closely with almost every team in the business in order to ensure our products are the best that they can be and we are excited to welcome him to the team.”

Speaking about his new role, Richard added “Device Authority is at an incredibly exciting point in its growth journey with innovative, breakthrough technology that is supporting a host of global enterprises to optimise their connected operations. I am looking forward to helping to grow and evolve their existing products as well as plan and develop new innovations to continue to stay at the cutting-edge of IoT security.”
Posted at 26/4/2024 16:42 by homtanks
1011 the VC investors in Dark Trace have in recent months bought into Device Authority an investee of Tern plc (TERN) might be worth a look for the next cyber security opportunity.
Posted at 26/4/2024 14:55 by apotheki
British cybersecurity firm Darktrace on Friday announced it had agreed a sale to U.S. private equity giant Thoma Bravo, for an all-cash offer of $5.315 million.

Investors are set to receive $7.75 in cash for each share held, under the terms recommended by the board.

Its move private will be seen as a major blow to the London Stock Exchange, where it listed in 2021. The company was seen as a welcome dynamic addition to a market often characterized as less appealing to technology firms than those in the U.S. or Asia, and stacked with “old economy” players, such as miners and oil and gas companies.

Darktrace specifically referenced its belief that it is undervalued in the U.K. as a reason for the sale. In a statement, it said its board believes the firm’s operational and financial “achievements” are not reflected in its valuation and that shares are trading “at a significant discount to its global peer group.”

Darktrace was founded in 2013 and is based in the U.K. city of Cambridge, which has attracted a cluster of tech firms over the last decade. It specializes in artificial intelligence-based protection against cloud attacks for large companies and events, and has roughly 2,300 employees based worldwide.

Thoma Bravo said the acquisiton would increase its exposure to the large and growing cybersecurity market, and that its investment in Darktrace would help scale the business globally.

The deal represents a 44.3% premium to the average volume-weighted Darktrace share price in the three months to April 25, according to the release.

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