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The cyber security AI company has entered into a definitive agreement to acquire the attack surface management firm.
Darktrace has entered into a definitive agreement to acquire the entire issued share capital of Cybersprint B.V. (Cybersprint) – an attack surface management company, which provides real-time insights from an outside-in perspective to eliminate blind spots and detect risks.
According to Darktrace, the €47.5 million (AU$74.3 million) acquisition would support its efforts to deliver a “continuous cyber AI loop”, while also complementing its self-learning technology and inside-out view.
Approximately 75 per cent of the purchase is expected to be paid in cash and 25 per cent in equity, valuing the transaction at approximately 12.5 times Cybersprint’s annual recurring revenue (ARR).
The deal is scheduled to be finalised on or around 1 March 2022.
The acquisition would provide Darktrace with a second European R&D Centre in The Hague, Netherlands in addition to its Cambridge-based mathematicians and software engineers.
“We are very excited to welcome the Cybersprint team to Darktrace,” Poppy Gustafsson, CEO of Darktrace, said.
“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, Cybersprint CEO, welcomed the acquisition.
“We are passionate about automating manual tasks in cyber security from an outside perspective,” Jansen said.
“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.”
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