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Tag: Darktrace

Darktrace float to crystallise £20m stake for chief Gustafsson

Darktrace float to crystallise £20m stake for chief Gustafsson

Business
Cyber security company Darktrace will on Monday fire the starting gun on a £3bn London flotation - crystallising a stake worth tens of millions of pounds for its 38-year-old chief executive.Sky News has learnt that Darktrace's board plans to issue an expected "intention to float" announcement before the stock market opens on Monday morning. The listing will provide another acid test of investors' appetite to embrace technology company flotations in London, following the disastrous debut of Deliveroo, the food delivery app, earlier this month.Darktrace's float is likely to value the company at between £2.5bn and £3bn, with chief executive Poppy Gustafsson's shareholding likely to be valued in the region of £20m.The filing of its registration documents will mean that Darktrace's shares will ...
Goldman snubs £2bn Darktrace float amid extradition fight

Goldman snubs £2bn Darktrace float amid extradition fight

Business
The Wall Street bank Goldman Sachs is to snub the £2bn flotation of one of Britain’s fastest-growing technology companies amid US prosecutors' efforts to extradite its biggest investor.Sky News has learnt that Goldman has declined to seek a role on the initial public offering (IPO) of Darktrace, a leading player in the provision of artificial intelligence (AI) cybersecurity services. Banking sources said that executives at Goldman had raised concerns about the ongoing legal ramifications of billionaire Mike Lynch's $ 11bn sale of the software company Autonomy to Hewlett Packard (HP) in 2011.Mr Lynch, one of the most prominent figures in Britain's technology industry, faces an extradition hearing early next year following the decision by US authorities to charge him with 17 counts of securi...