DarkTrace: Details about the Company Floated
September 24, 2020
DarkCyber noted “Goldman Snubs £2bn Darktrace Float Amid Lynch Extradition Battle.” The Sky News article presented some information which struck the DarkCyber research team as interesting. The story reported:
Legal issues surrounding the British technology star have led to Goldman Sachs deciding not to seek an IPO role…
The question is, “Why?” Goldman Sachs, like other high profile financial institutions, has been embroiled in interesting deals in the past. Wikipedia offers a list which warrants consideration if only to weed out the realities from the allegations.
SkyNews includes these data in its story:
- The sale of Autonomy to Hewlett Packard allegedly influenced the decision
- Invoke Capital (founded by Michael Lynch) was the first investor in the cyber-centric firm Darktrace
- Darktrace employs more than 1200 people and has more than 40 offices
- The company has “more than $200 million in revenue”
- “Mr Lynch stepped down from the Darktrace board in 2018, Invoke remains the company’s largest shareholder.”
- “KKR had increased its stake in Darktrace as part of a reorganization of the company’s shareholder structure.”
- “Darktrace might quickly be valued at well over £2bn.”
- Poppy Gustafsson, a former Autonomy professional, is the CEO
- Darktrace has $1bn in “cumulative bookings.”
- Customers include AIG, BT Group, Jimmy Choo, the Science Museum Group and William Hill.
According to The Register, Autonomy’s auditor Deloitte was fined about $20 million US for “misconduct.”
Stephen E Arnold, September 24, 2020
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