The IPOX® Watch - Darktrace
IPOX® News Flash
Yesterday (8/16/22), it was reported that private equity firm Thoma Bravo is considering the takeover of IPOX® 100 Europe and IPOX® International constitutent Darktrace. On the day of the announcement, Darktrace's share price increased by +24%.
Today (8/17/22, as of 7:00 AM Central), Darktrace's share price increased another +4% amid reports of potential rival bids by Cisco, Palo Alto Networks or CrowdStrike.
Company Description
Founded in 2013, Darktrace plc is an artificial intelligence-powered cybersecurity company headquartered in Cambridge, UK. Darktrace offers enterprise cybersecurity solution (the Cyber AI Platform) that uses machine learning and AI algorithms to autonomously detect, response and neutralize cyber threats in a wide variety of digital estates including the cloud and networks, internet of things (IoT) and industrial control systems.
Business Model
Darktrace generates revenue primarily (more than 99.5% of the total revenue) from platform subscription. The Group also generates little income from supplementary training and extra appliances sales.
IPO History
On 04/30/2021, Darktrace plc began trading on the London Stock Exchange led by Jefferies International. The autonomous cybersecurity company offered 66,036,904 shares (include 8,660,904 shares from selling shareholders) at 250.00 pence per share, mid-point of its expected price range (GBp220 - GBp280). Darktrace was valued at ca. £1.72 billion at offer. The shares opened at 349 pence and closed the first day at 330 pence (+32.00%).
Darktrace plc was included in the IPOX® 100 Europe Index (ETF: FPXE US, FPXE LN, EFPX IM) and IPOX® International Index (ETF: FPXI US) on 03/21/2022, and currently weighs ca. 1.74% and 0.13% of the portfolio, respectively.
