Darktrace has been struggling to win back investors, battling questions around the shape of its cost base and links to former Autonomy boss Mike Lynch, who is fighting extradition to the US to face charges for allegedly fraudulently inflating the software group’s value. But a weak valuation, high revenue growth and vast potential customer base means there is plenty to invite a bidding war.
News of an approach from tech-focused buyout group Thoma Bravo last week sent shares in the cybersecurity specialist up 24 per cent on the day. Even if a firm bid is no higher than the £3.7 billion market value currently attached to Darktrace, investors that bought in at the cut-price IPO should be happy enough, having doubled their money in
