Darktrace, the London based AI-based Cybersecurity company, has made it official that it’s going to terminate the tentative acquisition deal of equity firm London-based Thoma Bravo for reasons. If the deal would have gone through, Thoma Bravo would have gained £6 billion, thus culminating in a significant merger and acquisition deal in 2022.
Since July this year, media speculations were rife that the former is deeply interested in acquiring the latter and the deal would have been completed by September last week of this year.
Trade analysts suggest that the deal breakout occurred because of some financial discrepancies observed in the current year statement of Thoma Bravo and so Darktrace backed-out mid.
On the other hand, the equity firm said that it was not aware of any account restatement pressures from its prospective buyer and added that the deal closure has fetched the firm immense losses in the stock market.
NOTE- In the year 2012, Mike Lynch, the head of DarkTrace, was accused of over-inflating the value of his another company named Autonomy, and sold it to HP in the year 2011 for $11 billion. Now, the guy is facing extradition charges to the United States and might face serious consequences, once, in the USA for conducting fraud and selling the company with over-inflated valuation docs.