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London (Reuters) -U.S. Thoma Bravo’s technology investment company said on Thursday that his party would not submit an offer for Darktrace after failing to approve the agreement provisions for the British cybersecurity company.
Stocks in Darktrace, registered in April 2021, plummeted 30% to 359 Pence after the announcement.Darktrace said last month he had received several initial and conditional proposals from Thoma Bravo, sending stock to 560 Pence in the following days and gave market value of more than 4 billion pounds.
The initial stage of discussion occurred with Thoma Bravo about possible offers for the company but the agreement cannot be achieved with the provisions of company offerings,” Darktrace said.
Under the rules of British takeover, Thoma Bravo could not submit offers for Darktrace for six months unless other companies submitted company offers or reaching an agreement with the Darktrace Council.
Darktrace is supported by Mike Lynch, a technology entrepreneur who is governed by a British judge to apply complicated fraud when he sells his company’s autonomy.
Darktrace said that he continued to “be very confident” in his future prospects, as shown by the results for this year until the end of June published on Thursday.
But that missed his own estimates for revenue after saying $ 3.8 million in the first round should be reported in the previous financial year.
Accounting errors generated income that came at $ 415.5 million, 45.7% higher than the number 2021 presented again.
The group, who used artificial intelligence to detect attacks and vulnerability in the IT network rather than building obstacles in the perimeter, reported a net profit of $ 1.46 million versus a loss of $ 145.8 million a year before.
