Darktrace is acquiring Cybersprint for €47.5 million (AU $74.3 million) to be paid approximately 75% in cash and 25% in equity, valuing the transaction at approximately 12.5 times Cybersprint’s annual recurring revenue (ARR). With an expected completion date of on or around 1 March 2022, Cybersprint’s results of operations are not expected to be material to Darktrace’s results for the remainder of FY 2022.
Through this acquisition, Darktrace gains a second European R&D Centre in The Hague, Netherlands, joining forces with Cambridge-based mathematicians and software engineers.
“We are very excited to welcome the Cybersprint team to Darktrace. Bringing inside-out and outside-in visibility together is critical and having access to the robust, rich, real-time external dataset combined with Darktrace’s Self-Learning AI means that customers get a holistic view of prioritised cyber risks to harden the parts of their organisation that are most vulnerable. With this acquisition, we are able to leverage Cybersprint’s seven years of R&D to accelerate our Prevent product family, ultimately making it much harder for cyber-attackers to carry out successful missions,” said Poppy Gustafsson, CEO, Darktrace.
“I’m very excited about this fantastic step in the journey of Cybersprint. We are passionate about automating manual tasks in cybersecurity from an outside perspective. We believe attackers never sleep and operate without scope. When we began conversations with Darktrace, we felt an instant connection on vision, culture and technology. That’s why we are looking forward to joining Darktrace and working together to accelerate state-of-the-art innovations to make organisations more cyber secure,” commented Pieter Jansen, CEO, Cybersprint.