Darktrace has acquired attack surface management company Cybersprint for €47.5 million.
The share price for Darktrace gained 3% to trade at 355p in Wednesday afternoon trade. Darktrace had traded as high as 361p in earlier in the session.
The acquisition comes as an addition to Darktrace’s new ‘Prevent’ product suite, which is underpinned by Attack Path Modelling.
The company said that Cybersprint will contribute to Darkspace’s ‘Continuous Cyber AI Loop’ development and will complement its self-leaning technology and inside-out view.
The transaction is set to be paid approximately 75% in cash and 25% in equity, which values the transaction at approximately 12.5 times Cybersprint’s annual recurring revenue (ARR).
“We are very excited to welcome the Cybersprint team to Darktrace,” said Poppy Gustafsson, CEO at 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.”
Pieter Jansen, CEO at Cybersprint added: “I’m very excited about this fantastic step in the journey of Cybersprint.”
“We are looking forward to joining Darktrace and working together to accelerate state-of-the-art innovations to make organisations more cyber secure.”
The acquisition is scheduled for a completion date of 1 March 2022.