Cyber firm Darktrace shares surge on possible takeover

London: Shares in British cyber security firm Darktrace soared almost a fifth Tuesday, reflecting a possible takeover worth several billion pounds by a US private equity firm.

Darktrace stock rallied nearly 18 percent, valuing the group at more than £3.4 billion ($4.1 billion), after announcing it was “in the early stages of discussions with Thoma Bravo” to take it private under a cash offer.

AJ Bell financial analyst Danni Hewson noted that “Darktrace is in one of the hottest areas of the tech world, with demand for cyber security increasing amid concern over Russian cyber warfare linked to the conflict in Ukraine”.